Gold Rises Slightly as Trade Tensions Escalate

Gold prices rose slightly in today’s trading after US President Donald Trump announced new tariffs on Canadian imports and threatened to take similar action against other trading partners. A strong dollar limited the precious metal’s gains amid escalating global trade tensions.

Spot gold rose 0.3% to $3,333.41 per ounce, while US gold futures rose 0.5% to $3,344.50.

Trump announced on Thursday that the United States would impose a 35% tariff on imports from Canada and plans to impose uniform tariffs of between 15% and 20% on most of its other trading partners.