Gold hit a new record of nearly $3,160 an ounce after President Donald Trump unveiled his sweeping "reciprocal" tariffs, imposing a minimum levy of 10% on imports and stoking fears it may trigger a global economic slowdown. Bullion was one of the few commodities exempted from the tariffs, according to a White House factsheet. The metal's haven status was underlined when it rose as much as 0.8% at Thursday's open in Asia, shortly after the president's Rose Garden address. It closed 0.7% higher on Wednesday. Trump said he will apply a minimum 10% tariff on all exports to the US, with...
Oil fell after US President Donald Trump rolled out stiff tariffs on major trading partners, including China and the European Union, ratcheting up a trade war that threatens global demand. West Texas Intermediate declined as much as 3.3% to $69.38 a barrel, tracking a slump in wider markets. The latest salvo of levies represents Trump's biggest assault yet on a global economic system he has long bemoaned as unfair, and comes after earlier rounds of tariffs against countries including Canada, Mexico and China. Trump said he will apply a minimum 10% tariff on all...
The dollar traded mixed against its Group-of-10 peers while the yen surged in early Asian trading after President Donald Trump's sweeping trade tariffs sparked a flight to haven assets on fears it will impact the global economy. USD/JPY fell 0.8% to 148.02. Treasury futures advanced while US equity futures contracts slumped. Trump said he will apply a minimum 10% tariff on all exporters to the US and slap additional duties on around 60 nations with the largest trade imbalances with the US. That includes substantially higher rates on some...