Gold gains 1% amid tariff reinstatement
Gold prices retreated after a temporary rise following the escalation of trade tensions between the United States and Canada. On July 21, 2026, the price of an ounce jumped approximately 1% to reach $4,050 after Trump announced a 50% tariff on Canadian goods, leading to a major trade dispute with Canada, which firmly rejected the measures, considering them a violation of the USMCA agreement and expressing willingness to engage in dialogue to resolve the crisis.
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