Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
The ceasefire between Iran and "Israel" has officially begun.
Sirens sound in northern occupied Palestine.
Israeli media: Iran used missiles that have never been launched before in its latest attacks.
Israeli military command reports the detection of a fifth launch from Iran.
Israeli media: The missile struck Beer al-Sabe' just 20 seconds after sirens ended.
Sirens sound in West Bank settlements, occupied al-Quds,
For the fourth time in an hour, sirens blast in Tel Aviv and surrounding areas.
Israeli media: A very difficult morning in "Israel".
Israeli media: 11 settlers have been killed in the strike on Bir al-Sabe'.
Israeli media: One settler dead in a shelter in Ramat Gan.

Gold hits 3.5-week low amid market mass sell-off

  • By Al Mayadeen English
  • Source: News websites
  • 7 Apr 2025 20:10
3 Min Read

The price of gold witnessed a surge prior to Trump's reciprocal tariff announcement, however, investors are speculating that a mass sell-off is taking place to cover losses in other assets, like stocks.

Listen
  • x
  • A visitor tries to pick up a gold bar at Sado Kinzan Gold Mine historic site in Sado, Niigata prefecture, Japan, Saturday, Nov. 23, 2024 (AP)
    A visitor tries to pick up a gold bar at Sado Kinzan Gold Mine historic site in Sado, Niigata prefecture, Japan, Saturday, Nov. 23, 2024 (AP)

Gold prices dropped to their lowest level in over three weeks on Monday as a broad market sell-off pressured the precious metal with investors liquidating their bullion holdings to cover losses amid growing fears of a global recession fueled by an escalating global trade war.

Spot gold fell 0.3% to $3,027.90 an ounce by 0331 GMT after declining over 1% earlier to its lowest since March 13, while US gold futures edged up 0.4% to $3,047.50, as the precious metal extended losses following a 3% drop on Friday triggered by a market sell-off after US President Donald Trump unveiled aggressive reciprocal tariffs.

Gold, typically a safe-haven asset, declined as traders speculated that investors were liquidating holdings to lock in profits or cover losses elsewhere.

"There's a lot of confusion and uncertainties in the markets about whether there is room for de-escalation ahead, given that tensions are at an extreme right now, with many still struggling to see any quick resolution for now," IG Market strategist Yeap Jun Rong said, according to Reuters.

"While some weakness in prices could be due to profit-taking, resilience still seems to be the broader theme, with safe-haven flows offering some cushion amid the market volatility," Rong added.

US President Donald Trump announced wide-scale reciprocal tariffs targeting more than 180 countries on April 4, triggering fears of a global trade war as countries act to counter the United States' economic policy.

Related News

Iran moves to suspend cooperation with IAEA over politicized stance

Iran: Military operations halted, conditional on Israeli aggression

Trump tariffs fueling a global trade war

China announced on April 4 that it intends to impose a 34% tariff that matches the reciprocal tariff rate imposed by Trump on Beijing, in addition to economic restrictions that include barring exports of certain rare earth metals to the US.

Canadian Prime Minister Mark Carney accused the US of abandoning its traditional leadership role in global economic cooperation, stating, “The global economy is no longer the same as it was yesterday,” while unveiling a limited set of countermeasures on April 3.

The European Union has also promised to respond, with French President Emmanuel Macron calling on European countries to halt their investments in the United States.

German Chancellor Olaf Scholz previously asserted on March 31 that the EU would unite against Trump should he refuse to cooperate with the bloc.

Rising US tariff actions risk triggering a significant global trade downturn, World Trade Organization Director General Ngozi Okonjo-Iweala warned on April 3 amid growing demands from member nations for explanations regarding the implications of America's changing economic policies.

"The impact on global trade prospects and economic growth is becoming increasingly clear," Okonjo-Iweala stated, warning that retaliatory tariffs could spiral into a bigger tariff war.

The United States' sweeping imposition of tariffs is set to have far-reaching effects on global trade, Russian Security Council Deputy Chairman Dmitry Medvedev said on April 3 on his telegram channel, adding that "old trade chains will be broken, but new ones will arise."

  • United States
  • tariffs
  • Gold
  • Donald Trump

Most Read

Israeli workers survey the site where a missile launched from Iran struck in Haifa on Sunday, June 22, 2025. (AP)

True Promise 3, wave 20: 40 missiles launched, Kheibar-Shekan in first

  • Politics
  • 22 Jun 2025
Rescue team work at the site where a missile launched from Iran struck Tel Aviv, Israel, Monday, June 16, 2025 (AP)

Wave 12 of Operation True Promise 3 launched, Sejjil deployed: IRGC

  • Politics
  • 18 Jun 2025
Iran launches missile barrage to Tel Aviv, casualties reported

True Promise 3, wave 14: Tel Aviv targeted, casualties reported

  • Politics
  • 19 Jun 2025
Iran's heavy barrages impact multiple Israeli targets overnight

Iran's heavy barrages impact multiple Israeli targets overnight

  • Palestine
  • 18 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
President Donald Trump speaks with reporters upon arriving at Morristown Municipal Airport in Morristown, N.J., Friday, June 20, 2025. (AP Photo/Manuel Balce Ceneta)
Politics

Trump lashes out at media outlets for downplaying Iran strike impact

ap
Politics

Turkey denies role in US-Israeli strikes on Iran nuclear sites

Iran targets US air base in Qatar with 'destructive' missile strike
MENA

Iran retaliates, targets US air base in Qatar with missiles

Demonstrators hold up a banner during a protest by Palestine Action group in London, Monday, June 23, 2025. (AP Photo/Frank Augstein)
Politics

UK signals 'terror' ban on 'Palestine Action', sparking protests

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS