Trade in gold is widely authorised and regulated in many markets unlike cryptocurrencies such as Bitcoin.
Singapore: Gold Singapore is finally seeing some bullish momentum as trade war ructions escalate. President Donald Trump’s tariff salvo trained at Mexico boosted the metal, which has been weighed down by the strong dollar.
Bullion prices advanced to a two-week high to head for a narrow monthly gain after Trump said that he would impose a 5% tariff on Mexican goods, effective June 10, until that country stops immigrants from entering the United States illegally.“The United States is demonstrating that it can weaponise trade on a whim,” said Howie Lee, an economist at Oversea-Chinese Banking Corp. “From China to Mexico, it sends a message that no country is safe. Gold is picking that up.”
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