Gold prices surged to a three-month high, approaching USD 4,700 per ounce, driven by escalating tariff tensions between the US and Canada alongside growing worries over US debt, according to FX Street. This rise in gold was accompanied by rallies in other precious metals such as silver and platinum.
The increased demand for safe-haven assets reflects market uncertainty amid geopolitical and economic pressures. Analysts at Commerzbank, including Carsten Fritsch, have noted the impact of these factors on commodity markets, emphasizing the strengthened appeal of precious metals during times of heightened risk.
For Japanese investors, this development underscores the importance of monitoring global trade disputes and fiscal risks, which can influence safe-haven flows and impact the domestic FX and equities markets.