Gold remains strong despite Trump's removal of tariffs on Mexico and Canada

From Investing.com: 2025-02-04 11:19:00

President Trump has sparked more excitement in two weeks than most presidents do in four years. He imposed, then quickly removed, 25% tariff taxes on Mexico and Canada, leaving many shocked. Despite claims from CNN that he “blinked,” Trump secured concessions from Panama on immigration and canal security. The US government also secured major border security concessions from Mexico and Canada. These negotiations show the US has the upper hand. The US stock market reacted positively to the removal of tariffs, giving money managers breathing room. Gold remains strong, with potential for a $3000+ target. The CDNX chart suggests a surge in gold stocks, particularly GDX. The Trump administration’s policies may lead to higher interest rates, making gold a safe haven for investors.



Read more at Investing.com: Gold Holds Strong Even as Markets React to Tariffs Reversal