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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
👉 Profile: https://www.gate.com/profile/Kevin%20Lee
Let’s give Kevin_Lee a warm welcome! 👏👏👏
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Trade tensions boost gold prices Analysts: Market sentiment remains tense
Jin10 data reported on June 2nd that renewed trade tensions have boosted safe-haven demand, leading to a rise in gold futures. Fawad Razaqzada from StoneX stated in the report that for most of May, gold prices were in a sideways pattern due to trade optimism, but at the beginning of June, gold started to pump. Last Friday, Trump announced that from Wednesday, he would raise tariffs on steel and aluminum to 50%. Amid new concerns over trade wars and the looming disputes regarding U.S. taxes and spending, market tensions remain high. Ongoing worries about the debt ceiling will further exacerbate market fluctuations. Razaqzada added that the backdrop of safe-haven sentiment and fiscal uncertainty is very favorable for gold prices.