Gold Climbs Amid Economic Uncertainty

In a notable market movement, the price of gold saw a 1% increase on Tuesday. This surge comes as investors seek safer assets in response to the economic uncertainty triggered by President Donald Trump's decision to impose an additional 25% tariff on Canadian steel and aluminum imports. This move was a direct reaction to Ontario's 25% tax increase on electricity exports to the US.

Market Reaction and Precious Metals' Performance

The announcement led to a significant market sell-off, with the Dow Jones Industrial Average dropping 350 points shortly after the opening bell. Amidst this turmoil, gold prices rose by 1.01%, reaching $2,918.35 per ounce by 11:20 am ET. Similarly, silver experienced a 1.82% jump, selling for $32.68 per ounce at 11:24 am ET. Platinum and palladium also saw increases, with platinum adding 1.70% to sell for $977.17 at 11:25 am CET, and palladium increasing by 0.11%, selling for $934.54 per ounce at 11:26 am ET.