FX.co ★ Gold Climbs to Over 1-Week High

Gold experienced an increase of over 1%, surpassing $3,370 per ounce on Tuesday, reaching its highest point in over a week. This rise was driven by heightened demand for safe-haven assets following President Donald Trump's recent tariff announcement. On Sunday, Trump escalated his trade confrontations by declaring a 100% tariff on films produced outside the United States. Additionally, on Monday, he indicated plans to introduce tariffs on the pharmaceutical sector in the upcoming two weeks. Investors are now keenly awaiting the Federal Reserve's policy announcement and various speeches from key Fed officials scheduled for this week. Notably, the U.S. central bank is anticipated to maintain interest rates at their current level, notwithstanding ongoing pressure from President Trump, who has been advocating for Fed Chair Jerome Powell to implement rate cuts.