Trump's tariffs increase the value of gold - How is this movement reflected in the reserves of the Bank of Albania?
The tariffs of the president of the United States of America are not only affecting foreign trade, but also the value of gold, a trend that is also reflected in the data of the Bank of Albania.
According to the latest statistics, at the beginning of this year, the value of gold in the reserves of the Bank of Albania reached 292 million euros. Compared to the last month of last year, this value increased by 7%.
This increase is directly related to the price of gold in international markets, which has reached record levels. One ounce is trading at $3,030, marking another historic increase.
The ripple effect of Trump's tariffs on the gold market
The impact of the tariffs imposed by the Trump administration on China and Mexico is also being felt in the global gold market. According to an article published by the international media "CNBX", the price of gold has broken records mainly due to geopolitical conflicts and US protectionist policies.
"Gold prices hit a new record above the critical $3,000 mark on Tuesday, for the second time in a week, as investors sought safety in the face of economic concerns fueled by tariffs imposed by U.S. President Donald Trump," CNBX quoted the news as saying.
In other words, in times of economic and geopolitical uncertainty, investors and citizens tend to invest in gold, as it retains value and functions as a safe asset. The value of gold began to rise three years ago due to the first geopolitical crises, but Trump's tariffs have given it an even greater boost, creating a ripple effect in the global economy and also influencing the increase in the value of gold at the Bank of Albania.
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