The tariffs that US President Donald Trump will announce on April 2nd, which he calls “Independence Day,” have deepened uncertainties regarding global trade. Global stock markets started the week with significant losses, while gold prices continued to gain value.
The deadline Donald Trump gave federal agencies to investigate unfair trade practices is expiring. In this context, Trump is expected to announce a large-scale tariff plan on April 2nd.
Before the new tariffs are announced, White House Economic Advisor Kevin Hassett stated in an interview with Fox Business that the countries the administration is focusing on regarding tariffs are the 10 to 15 countries with the largest trade imbalances.
However, he did not share the names of these countries.Speaking to reporters on Air Force One, Trump stated that the reciprocal tariffs he will announce this week will not be limited to only the 10 to 15 countries with the largest trade deficits, but will cover all countries.
The South Korean Kospi index also closed the day with a 3% loss at 2,481 points.
Following declines in Asian stock markets, European stock markets also started the week with losses. The DAX 40 index in Germany fell by 1.11%, the FTSE 100 index in the UK fell by 0.97%, the FTSE 250 index fell by 1.16%, and the CAC 40 index in France fell by 0.92%. The Stoxx Europe 600 Index also opened the week with a 1.03% decline, trading at 536.54 points. The Stoxx Europe 600 Index also opened the week with a 1.03% decline. {“className”:””} –>Amid rising concerns about trade wars in global markets, the price of gold reached an all-time high of $3,128 per ounce.
During this period, the price of gold per ounce traded at $3,122 on the first trading day of the week, an increase of 1.19%. The price of gold per gram, calculated using the USD/TRY exchange rate, was 3,802 Turkish Lira.
Gold price forecasts, which were more cautious at the beginning of the year, have begun to be updated as geopolitical and macroeconomic uncertainties increase.
Major financial institutions such as Goldman Sachs and Bank of America have revised their year-end target prices upwards.Goldman Sachs raised its gold price forecast for the end of 2025 from $3,100 to $3,300, while ANZ expects gold to reach $3,200 within 6 months.
Source: doviz.com
