Analyst: Gold remains the most reliable hedge against Trump tariffs

Odaily Planet Daily reported that gold prices rose 0.8% in early trading, driven by tariff uncertainty and rapidly changing geopolitical situations that have made investors nervous. Ipek Ozkardeskaya, a senior analyst at Swiss bank Baosheng, said, "Gold remains the most reliable hedge against Trump's tariffs." President Trump announced a 25% tariff on all imported cars on Wednesday, intensifying the global trade war. Economists are concerned that this may slow economic growth and trigger inflation, and it is expected that the United States will impose equivalent tariffs on its trading partners next week. Traders are now waiting to observe the reaction of the US dollar to Friday's personal consumption expenditure price index data. However, analysts from Peak Trading Research said, "Given that we just listened to Powell's speech last week, this data won't have much impact - the Federal Reserve is not in a hurry, and the inflation caused by tariffs is' temporary '