There is still plenty of support for gold after Trump's tariffs end metals arbitrage trade - Analysts

From kitco.com

The gold market is seeing some significant volatility as its months-long arbitrage trade comes to an end. At the North American open gold prices were down 2% on the day; however, prices have since recovered and are relatively neutral on the day. After weeks of uncertainty, President Donald Trump announced his global import tariffs but excluded precious metals, along with copper, steel, and aluminum—making the increased stockpiles in New York vaults redundant. While gold could see further profit-taking in the near term as investors navigate the new tariff landscape, some analysts have said that the precious metal ... (full story)