Oil and Gold Prices Surge as Trump’s Tariff Announcement – Shakes Global Markets

Oil and gold price chart showing surge amidst market uncertainty

Today, European stock indices are declining while American indices are on the rise. Concurrently, there has been a notable increase in the prices of oil and gold. The newly elected U.S. President, Donald Trump, announced plans to impose comprehensive new tariffs on products from Mexico, Canada, and China once he officially takes office, further unsettling markets, according to Trading Economics.

  • The DAX index in Frankfurt fell to 19,295.75 points at 9:15 AM.
  • The UK’s FTSE 100 dropped to 8,259.07 points.
  • France’s CAC 40 decreased to 7,196.87 points.
  • Meanwhile, Moscow’s MOEX index rose to 2,534.88 points.

On the American front, the Dow Jones Industrial Average surged to 44,736.57 points, the S&P 500 to 5,987.40 points, and the Nasdaq to 19,054.84 points.

According to stock market data:

  • The price of raw oil climbed to $69.007, and Brent crude oil reached $73.141.
  • At the opening of the TTF European gas futures market, prices were at €47.5 per megawatt-hour.
  • Gold prices increased to $2,615.32 per ounce.
  • Wheat prices fell to $5.3455 per bushel (one bushel equals 27.216 kg).
  • The euro strengthened against the dollar to 1.04785, up approximately 0.33% from the start of the trading session.
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