US tariffs will raise gold prices above $3,000 per ounce

Import duties are due to take effect on March 4 The United States against Canada and Mexico, which President Donald Trump announced earlier. An additional surcharge will also be introduced for China — China has already received its 10%. According to experts interviewed by Izvestia, such actions will lead to an increase in gold prices above $3,000 per ounce.

Gold tide: how Donald Trump has unleashed the price of the precious metal

Gold is up 10% YTD

"Since the beginning of 2025, the global price of precious metals has already increased by almost 10% — on March 3, it is trading around $ 2,880 per ounce. This is a very high growth rate in two months, compared with the average in 2012-2021 (at that time, an increase of 5% per year was considered high)," said Natalia Milchakova, a leading analyst at Freedom Finance Global.

Market participants have long considered gold as a kind of protective asset, said independent expert Andrey Barkhota. According to him, investments in this metal have high liquidity in the face of armed and economic disasters.

Trump's tariffs limit global trade relations in the interests of America, said Mikhail Gordienko, Professor at the Department of Finance for Sustainable Development at Plekhanov Russian University of Economics. The presidential administration is interested in creating protective barriers — this is necessary to restore the country's industrial potential.

In addition, it is important for the American leader to show that he has actively taken up the task of leveling the trade deficit problem, said Ivan Loshkarev, associate professor of Political Theory at MGIMO.