New Record after Trump Tariffs – Cyprus Newspaper
After the Trump tariffs, ounce of gold tested the new record level by seeing over 3 thousand 160 dollars. Since the New Year, an increase of 20 percent was recorded.
After Trump tariffs, he brought a new record under the search for a safe harbor.
Following the ounce of gold tariff news, 3 thousand 167 dollars came to the new record level. Since the beginning of the year, the premium has reached 20 percent.
US President Donald Trump announced that 10 percent additional customs duties will be obtained from almost all imported products, and in addition, competitors and allies brought additional customs duties to many countries.
The European Union (EU) and China will respond to increasing customs duties.
While it is thought that inflation will increase rapidly with rising customs duties and economic growth will slow down, it is concerned that the trade war will be heated due to the provisions of the countries.
According to a statement from the White House, the US, which is currently applying 20 percent customs duties to China, will apply 34 percent additional customs duty.
20 percent of the EU, Japan, 24 percent additional customs duties will be applied.
Deutsche Bank Analyst Michael Hsüeh said, ıl The demand elements that lead to normal value will continue. The Central Bank purchases, the accumulation of gold type ETF in developed markets and the potential of a “important share” from the precious metal of Chinese insurance companies are expected to support.
