In a stunning turn of events, gold prices soared past the $2,800 mark on Friday, setting a new all-time high! 😲💰 Investors are flocking to the shiny metal as a safe haven ahead of US President Donald Trump's impending tariffs on China, Mexico, and Canada this weekend.
According to gold.org data, spot gold reached an unprecedented $2,814.62 per ounce. This surge reflects growing market anxiety as trade tensions escalate. 📈
Meanwhile, Wall Street felt the pressure. The Dow Jones Industrial Average dipped 0.7%, the S&P 500 slipped by 0.5%, and the Nasdaq Composite Index declined 0.3%. Not the best day for stocks, to say the least. 😬📉
The US dollar, however, flexed its muscles. 💪💵 The dollar index, measuring the greenback against currencies like the yen and the euro, rose 0.31% to 108.42.
Oil prices also climbed. 🛢️ The US West Texas Intermediate crude advanced to $73.48 per barrel, up 1%, while Brent crude futures for April rose 0.7% to $76.54 a barrel. This came after the Trump administration announced a decrease in proposed tariffs on Canadian oil.
So, what's next? As trade policies shift and markets react, keeping an eye on these trends is key. Stay tuned, amigos! 🕵️♂️🌎
Reference(s):
cgtn.com
