Gold Hits Fourth Straight Record High as Markets Brace for Trump’s ‘Liberation Day’ Tariffs
Global stocks rose Tuesday while gold hit a new record of $3,148.88 per ounce as markets await Trump’s “Liberation Day” tariff announcement on April 2.
Safe-haven assets gained strength with Treasury yields dropping and the Japanese yen and Swiss franc holding firm. European stocks increased 0.9% by midday, with pharmaceutical and tech sectors leading the recovery.
The U.S. Trade Representative released a lengthy report on foreign trade barriers, but its relationship to Trump’s tariff plans remains unknown. According to The Washington Post, White House aides have drafted a proposal for roughly 20% tariffs on most U.S. imports.
Market volatility has risen sharply. Analysts warn that while U.S. markets have adjusted for slower growth, they haven’t priced in a potential recession that could cause stocks to fall another 10%.
Gold’s record-breaking streak reflects both growing risk aversion and concerns that Trump’s trade policies might undermine the dollar’s status as the world’s reserve currency.
