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Safe-haven gold gains on tariff uncertainty ahead of August 1 deadline
Gold prices rose on Thursday as traders turned to the safe haven asset amid ongoing tariff uncertainty, as U.S. President Donald Trump’s August 1 deadline to end negotiations approaches. Spot gold was up 0.6% at $3,295.11 per ounce. U.S. gold futures slipped 0.2% to $3,347.8. “We’ve seen an uptick in trade uncertainty as we approach this August 1st deadline for tariffs... just a little bit of a revival of the safe haven bid,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. “The midpoint of the broader range is sort of around $3,312/oz and we tested that level today. I’d ... (full story)
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TRUMP SIGNS EXECUTIVE ORDER RAISING TARIFF ON CANADA FROM 25% TO 35%; HIGHER RATE EFFECTIVE AUGUST 1, 2025 Trump sets 10% tariff on trading partners *WHITE HOUSE: TRUMP WILL MODIFY CERTAIN COUNTRIES TARIFF RATES BEFORE MIDNIGHT WHITE HOUSE: GOODS TRANSSHIPPED TO EVADE 35% TARIFF ON CANADA WILL BE SUBJECT, INSTEAD, TO A TRANSSHIPMENT TARIFF OF 40% 
Fact Sheet: President Donald J. Trump Amends Duties to Address the Flow of Illicit Drugs Across our Northern Border Today, President Donald J. Trump signed an Executive Order increasing the tariff on Canada from 25% to 35%, with the higher tariff set to go into effect on August 1, 2025. • Shortly after returning to office, President Trump declared a national emergency under the International Emergency Economic Powers Act (IEEPA) to address, among other things, the public health crisis caused by fentanyl and illicit drugs flowing across the northern border into the United States. • Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States for the President’s actions to address this unusual and extraordinary threat to the United States. In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency. Goods qualifying for preferential tariff treatment under the United States-Mexico-Canada Agreement (USMCA) continue to remain not subject to the IEEPA Canada tariffs. Goods transshipped to evade the 35% tariff will be subject, instead, to a transshipment tariff of 40%. COMBATING CANADA’S CONTINUED ROLE IN THE OPIOID CRISIS: Given Canada’s continued failure to arrest traffickers, seize illicit drugs, or coordinate with U.S. law enforcement and Canada’s retaliation against the United States for the President’s actions to address the unusual and extraordinary threat to America, further presidential action is necessary and appropriate to protect American lives and the national security and foreign policy of the United States.
Fact Sheet: President Donald J. Trump Amends Duties to Address the Flow of Illicit Drugs Across our Northern Border Today, President Donald J. Trump signed an Executive Order increasing the tariff on Canada from 25% to 35%, with the higher tariff set to go into effect on August 1, 2025. • Shortly after returning to office, President Trump declared a national emergency under the International Emergency Economic Powers Act (IEEPA) to address, among other things, the public health crisis caused by fentanyl and illicit drugs flowing across the northern border into the United States. • Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States for the President’s actions to address this unusual and extraordinary threat to the United States. In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency. Goods qualifying for preferential tariff treatment under the United States-Mexico-Canada Agreement (USMCA) continue to remain not subject to the IEEPA Canada tariffs. Goods transshipped to evade the 35% tariff will be subject, instead, to a transshipment tariff of 40%. COMBATING CANADA’S CONTINUED ROLE IN THE OPIOID CRISIS: Given Canada’s continued failure to arrest traffickers, seize illicit drugs, or coordinate with U.S. law enforcement and Canada’s retaliation against the United States for the President’s actions to address the unusual and extraordinary threat to America, further presidential action is necessary and appropriate to protect American lives and the national security and foreign policy of the United States.
From dailyforex.com | Jul 31, 2025
The $3200 level below is a massive support level, just as the $3500 level above is a massive resistance barrier. There is what I considered to be an “inner consolidation area” between the $3300 level and the $3400 level. So, in other words, I think there are plenty of places to see a lot of noise and choppiness, and unless we put some external pressure on ...
From kitco.com | Jul 31, 2025
Gold prices are slightly lower in midday U.S. trading today, on some mild profit taking. Silver prices are sharply down and hit a four-week low, with weak long liquidation featured in the futures market. December gold was last down $4.70 at $3,348.10. September silver prices were last down $1.049 at $36.69. It’s likely the weaker gold prices and strong ...
