US Dollar and Gold Surge After Trump’s Comments on New Tariffs

The US dollar continued to rise alongside gold, amidst significant market fluctuations triggered by statements made last week by US President Donald Trump. The President hinted at the possibility of imposing new customs tariffs in the coming days.

The dollar index, which tracks the performance of the US currency against a basket of six major currencies, rose to 108.28 points, up from the previous daily close of 108.04 points. During Monday’s trading, the index reached its lowest point at 108.09 and its highest at 108.44.

At the end of last week, President Trump discussed the potential imposition of “reciprocal” customs tariffs on countries that have placed tariffs on US products. He suggested that an official announcement could come as early as Tuesday or Wednesday, heightening uncertainty around global trade and potential restrictions in the near future.

Amid these developments, gold prices reached unprecedented levels on Monday, benefiting from the tariff-related statements made by Trump. The President’s trade escalation began with his inauguration speech in January last year.

Gold futures climbed to $2,930 per ounce, compared to the previous daily close of $2,886 per ounce. The precious metal’s lowest level on the first trading day of the new week was $2,879, while the highest recorded was $2,932.

Typically, the US dollar and gold do not move in the same direction due to their inverse relationship. However, their simultaneous rise underscores the heightened tension in financial markets triggered by Trump’s threats.