Gold Surges to $4,100 per Ounce Overnight as U.S. Announces 50% Tariffs on Canada

According to Guangda Futures, spot gold surged past $4,100 per ounce overnight as gold, copper, and oil moved higher in tandem. The rally follows U.S. trade policy shifts, with the U.S. announcing 50% tariffs on select Canadian products. Trade representative Grier signaled new global import tariff policies to replace the expiring 10% rate.

Geopolitical tensions added to volatility. The U.S. President ruled out near-term talks with Iran, stating the U.S. has no interest in negotiations and will "soon" strike Iranian nuclear facilities. Amid macro uncertainty and geopolitical friction, analysts recommend a defensive stance given elevated gold price swings.