Tariffs swing, gold and silver take off? Safe-haven funds queue up to enter!

When Donald Trump’s tariff policies once again become the market focus, gold and silver quickly surge as if they hear a rally call. Many are puzzled: aren’t tariffs a trade issue? Why are precious metals the first to get excited?
The logic is actually simple. Higher tariffs mean increased import costs, squeezed corporate profits, and possibly rising inflation expectations. The market fears “uncertainty,” and tariffs just create this kind of emotional volatility. So, funds start looking for “safe havens,” and gold naturally becomes the first choice.
The charm of gold lies in its “no credit risk.” It doesn’t issue announcements, doesn’t change financial reports, and isn’t constrained by a single country. The more policy variables there are, the more stable it appears. Silver is more like gold’s “highly elastic cousin”: when risk aversion rises, it tends to rally more actively.
Of course, don’t mistake this for “gold and silver always rise.” If policy shocks are quickly digested by the market and risk assets stabilize, funds will flow back. The rise of precious metals is often a phase of defense, not a permanent trend.
Humorously speaking, tariffs are like thunderstorm warnings in weather forecasts; gold and silver are the umbrellas opened in advance. How heavy the rain will be is uncertain, but opening the umbrella first is always the right move.
Market volatility is never a bad thing; it simply reminds us: when policy voices grow louder, risk premiums will increase. The rise of gold and silver is essentially a re-pricing of emotions.
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