Forex Market Analysis: Impact of Trump's Tariffs on Major Currency Pairs and Gold Prices

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Overview of Today's Forex Market

The Forex market is experiencing significant fluctuations today, influenced by President Trump's recent tariff announcements. Major currency pairs like EUR/USD are showing notable movements, while safe-haven assets such as gold are witnessing a surge amid growing market uncertainties.

EUR/USD Under Pressure

The EUR/USD pair has been on a downward trajectory, largely due to the adverse market sentiment triggered by Trump's tariff threats against the Eurozone. After a six-day losing streak, the pair showed some recovery, trading around 1.0770, yet remains vulnerable to further decline as the market digests the potential economic impacts of these tariffs.

Gold Prices Soar Amid Tariff Concerns

Gold prices have surged, breaking past key resistance levels and approaching all-time highs. The introduction of new US tariffs has sparked a safe-haven demand, with gold prices in various countries like Saudi Arabia, India, and the Philippines also showing significant increases. The uncertainty surrounding the tariffs, especially those targeting the auto sector, has propelled gold to become a preferred asset for investors looking to hedge against potential market disruptions and inflationary pressures.

Silver and Other Precious Metals

Alongside gold, silver prices have also risen, trading at $33.71 per troy ounce. The bullish outlook for silver is supported by strong ETF inflows and structural supply gaps. Gold's strength adds a macro tailwind, helping silver and other precious metals maintain their upward momentum in the market.