🌟 Gold Holding Strong, Silver Gaining Ground
Ukraine’s strike on Russia’s bomber fleet and renewed U.S.-China trade tensions triggered another move into safe-haven assets. Gold traded above $3,350 per ounce (up 27.6% YTD), while silver climbed to $34.45 (up 19% YTD), reflecting investor anxiety amid global instability.
🚀 Gold Miners Rally on Geopolitical Jitters
Mining stocks saw double-digit gains this week as tensions spiked. Iamgold surged 8.9%, Gold Fields rose 9.5%, and Fortuna Mining jumped 12.1%, following a 2.7% uptick in gold prices. Trigger points: tariff escalation and rising East-West friction.
🛠️ U.S. Doubles Metal Tariffs as Trade Clock Ticks
Washington doubled tariffs on steel and aluminum imports Wednesday, the same day it demanded “best offers” from trading partners to avoid broader tariffs in July. European negotiators met with U.S. trade officials in Paris, urging swift action to avoid escalating trade conflict.
📈 Deadline Diplomacy: U.S. Pushes Final Trade Proposals
The Trump administration is fast-tracking trade negotiations, pressing global partners for final offers by later today. With a July 8 tariff deadline looming, markets brace for renewed trade shocks.