Gold prices saw a notable increase following recent tariff announcements by President Trump, targeting Canada and extending threats to other countries the U.S. engages in trade with. This development underscores the precious metal’s status as a preferred investment during times of economic and political uncertainty. On Friday, gold futures climbed by 0.7 percent to $3,349, while spot gold prices rose by 0.4 percent to $3,336 an ounce.

The rise in gold prices is a direct response to the heightened trade tensions, as investors traditionally turn to gold as a safe haven asset when geopolitical risks escalate. The current market conditions are particularly favorable for companies with significant gold assets, such as Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM), which stands to benefit from the increased demand for gold.

This trend reflects broader concerns about the impact of trade policies on global economic stability. The announcement of new tariffs has not only affected commodity prices but also raised questions about the future of international trade relations. As the situation develops, market watchers will be closely monitoring the effects of these policies on both the gold market and the wider economy.

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