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Why is gold up 0.6%

Trump Tariffs Send Gold Higher

Wall Street’s bearish sentiment is supporting another bullish move in gold, as markets brace for the unknown impact of Trump’s tariffs, rising yields and historically high stock market valuations. Safe-haven demand and a mixed picture of recent US macroeconomic readings are supporting gold, while Wall Street’s sell-off is pushing the volatility index into hedging strategies.

Gold is up 0.6% today despite a stronger US dollar; meanwhile, US yields have fallen from 4.72% to 4.68% today, after comments from Fed member Waller, who indicated that US inflation is on track to reach 2%, while the inflationary impact of tariffs is not guaranteed.