“Gold surged past the $3,100 mark on Tuesday, setting a new all-time high, driven by strong safe-haven demand amid concerns over U.S. President Donald Trump's widening trade war. Reports indicated that Trump is considering higher trade tariffs on a wider range of countries when he unveils his plans for reciprocal duties on April 2. In addition, Trump on Sunday warned of imposing 25-50% secondary tariffs on Russian oil if Moscow blocks his efforts to end the Ukraine war, while he also threatened Iran with additional tariffs and bombing if Tehran fails to reach a nuclear agreement. Meanwhile, San Francisco Federal Reserve Bank President Mary Daly said that Friday’s inflation data has confirmed her decreased confidence in her expectation that two interest rate cuts this year are a "reasonable" projection.”
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