Gold price rebounds from three-week low as Trump ups China tarriffs [Video]

Eliman Dambell Sayvio AI

Gold rallied from a three-week low to start today’s session as President Trump added a further 50% tariff on imports from China.

This comes after Beijing retaliated with a 34% levy of its own, following last week’s move by the Trump administration.

Following the latest percentage increase, total tariffs on Chinese goods stand at 104% as of April 9th.

Speaking after the news, U.S Treasury Secretary Scott Bessent stated, “What do we lose by the Chinese raising tariffs on us? We export one-fifth to them of what they export to us, so that is a losing hand for them”.

Beijing remains defiant despite the latest hike, with the Commerce Ministry saying, “China will never accept it. If the U.S. insists on its way, China will fight to the end”.

XAUUSD rebounded from Tuesday’s low of $2,974 and is now trading above $3,045 as tariffs have commenced.

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Author

Eliman Dambell

Sayvio AI

With over a decade in financial markets, Eliman brings an experienced and diversified point of view to market analysis. He covers current and historical macro trends to give insights on Metals, FX, Stocks, and Crypto.

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