Gold has jumped above $5,000 an ounce for the first time, as Donald Trump’s chaotic policies and proclamations drive more investors to seek safe harbour in the precious metal.
The price of the yellow metal reached a record high of $5,100 on Monday morning, before easing back to settle up 2.2% at $5,089.
The historic moment came as Trump threatened Canada with 100% tariffs if America’s northern neighbour “makes a deal with China”, and after the US president’s dramatic showdown with Europe over the future of Greenland.
It might actually technically not happen. The biggest increase in US exports has been gold. If say Germany moves the gold reserves it has in the US to Germany, that is the US exporting gold and it would end up with 0.5% increase in US GDP. Welcome to Trump making some intressting decisions.
You mean the german gold that the US refused to allow the Germans to see when they wanted to confirm its presence? Something will happen if Germany does request to move their gold, just depends on how bad of a shit show it will turn out.
There’s zero chance that Trump lets that go without a fight or a bribe.