Gold rose after US President Donald Trump announced he would likely impose tariffs on Mexico and Canada early next month, even as he held off from immediately hitting China with import levies.
Bullion added to a modest gain on Monday to trade near $2,725 an ounce — on course for the highest close since early November — as traders weighed the potential implications of US tariffs of as much as 25% against its neighbors. If enacted, the move threatens to spark a trade war.
Gold prices surged to over a two-month high on Tuesday as the U.S. dollar weakened, while the yellow metal was also supported as investors flocked towards it amid uncertainty surrounding Donald Trump's trade policies.
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