Tariff uncertainty is shaking the markets, with gold blasting to new all-time highs as investors rush for safety. The US dollar, the Chinese yuan, and key commodities are all feeling the pressure, and the ripple effects could be just the beginning.
Gold erupted to all-time highs of $3,534 per ounce after the Trump administration imposed duties on one-kilo and 100-ounce bars, long considered to be exempt from trade levies.
“This isn’t just a price spike, it’s pure tariff mania. Futures are surging into uncharted territory because one customs ruling turned the global gold plumbing upside down. This is what happens when political theatre trumps market logic.” Nigel Green, deVere CEO.
The ruling threatens to divert trade away from the U.S., with London emerging as a potential beneficiary as Swiss refined gold gets hit by trade tariffs under a new code not covered by exemptions.
When fear dominates, the world tends to pile into gold. Increasingly, countries are shifting away from the dollar as a reserve currency and diversifying their investments in gold. China has been doing it for a while now, and India has started stockpiling gold as well. Gold prices have soared almost 30% this year alone.
In times like these, the smartest investors aren’t just reacting; they’re positioning by adding gold into their diversification portfolio to hedge against volatility. Consult with a financial adviser before making any investment decisions.
Chinese tech giant Tencent’s quarterly revenue has jumped 15% due to strong performance in its gaming unit and AI investments.
Tencent’s newly released ‘Delta Force’ Game and the performance of ‘Honour of Kings’ and ‘Peacekeeper Elite’ helped boost quarterly revenue. It saw a 17% increase in domestic sales and 35% in international sales.
Also, AI-driven improvements in the tech giant’s advertising platform and Weixin transaction ecosystem helped boost marketing services revenue by 20%.
Tencent, a cloud computing firm, has emphasised selling AI tools to boost revenue and make it stand apart from its competitors.
Earlier this summer, Tencent revealed it is looking to bring its cloud computing capabilities to Europe, pitching it against U.S. giants Amazon, Microsoft and Google, which collectively make up 70% share of Europe’s cloud market.
Please note, the above is for educational purposes only and does not constitute advice. You should always contact your adviser for a personal consultation.