Gold prices have plummeted to their lowest level in three weeks, trading below $2,840. This decline comes amid increasing uncertainty surrounding the Trump administration's trade policy, which is affecting the XAU/USD pair. The precious metal is now on track to end an eight-week winning streak, as traders grapple with the implications of upcoming tariffs on Canada and Mexico.
The timing of potential European Union measures remains unclear, adding to the market's apprehension. President Trump recently stunned the markets by announcing that 25% tariffs on Canada and Mexico will be enacted next Tuesday. The one-month delay for these tariffs is set to expire, leaving traders on edge about the potential impact on the Forex market.
This article, sponsored by a leading broker known for competitive spreads, fast execution, and robust trading platforms, explores these recent developments. The broker has been recognized as one of the top brokers for trading EUR/USD in 2025, demonstrating its industry standing. It is important to note that neither the author nor FXStreet are registered investment advisors, and this article should not be construed as investment advice.
Authored by an individual who shares their insights and opinions, the article aims to inform both novice and seasoned Forex market participants. While it highlights current market trends and events, the views expressed do not necessarily reflect the official policy or position of FXStreet or its advertisers.