CFG | 01-24-25 AM: Gold Prices Surge

Gold prices have surged to their highest level in over ten weeks, reaching $2,727.19 per ounce, as investors seek safe-haven assets amid uncertainties surrounding potential U.S. trade tariffs. The U.S. dollar weakened following indications that President Donald Trump may impose a 25% tariff on imports from Canada and Mexico starting February 1. This speculation has led market participants to increase gold purchases as a hedge against potential economic disruptions.

The possibility of new tariffs has created a climate of uncertainty, prompting investors to turn to gold, traditionally viewed as a safe-haven asset during times of economic instability. Analysts suggest that if these tariffs are implemented, gold prices could experience further upward momentum, reinforcing the metal's role as a protective asset in diversified investment portfolios.

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Fun Fact:
A cubic foot of gold weighs around 1,206 pounds, making it extremely dense and heavy compared to most materials.