Spot gold advanced as Donald Trump’s reciprocal tariffs boost haven demand.
The metal has climbed 19 per cent this year, extending a ferocious run in 2024, as investors seek safety amid concerns over the global economy and world order.
Gold rose as much as 1 per cent to $3,143.39 an ounce in late trading on Wednesday.
- Stay on top of your portfolio with real-time data, historical charts and the latest news on the gold
Copper edged lower when Trump made the announcement as traders were concerned levies may hurt demand and drag down economic growth.
U.S. President Donald Trump’s reciprocal tariffs on trading partners are set to take effect today, a day he has proclaimed as “Liberation Day” for American trade. CTV News has extensive coverage across all platforms:
- CTVNews.ca has in-depth coverage, real-time updates, and expert analysis on what the tariffs will mean for Canadians.
- CP24.com has developments out of Queen’s Park and what the tariffs mean for the people of the GTHA.
- BNNBloomberg.ca has what this means for the business community, investors, and the market.
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