Tariffs will hurt silver and base metals but boost gold demand; Trump will double down before he gives in

From kitco.com

The Trump administration’s massive ‘reciprocal’ tariffs will likely last at least until the 2026 midterms, and the secondary and tertiary effects will wreak havoc on silver and other industrial commodities, but will continue to boost gold demand as they stoke inflation and harm risk assets, according to analysts at TD Securities. “US details on tariffs were more aggressive, more immediate, more broad, and seemingly more permanent than markets were expecting,” they wrote in a note on Thursday. “President Trump announced a new baseline tariff of 10% on all imports into the US, with 40 countries plus the EU ... (full story)