Trump’s plan to raise global tariffs to 15% has reignited trade tensions, boosting demand for safe-haven assets like gold and silver, according to ANZ Research.
Gold prices rose 0.68% to $5,140, while silver gained 2.4% to $87 on Feb. 23, driven by safe-haven demand amid heightened trade tensions following Trump’s tariff proposal. Analysts from ANZ Research noted that the move could fuel further demand for precious metals.