XAU/USD Draws Support as US-China Tariff Tensions Widen
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A new U.S. white paper accusing over 40 countries of helping China dodge tariffs is reviving trade-war anxieties that traditionally benefit gold. The 'Great Transshipment Scam' report names Azerbaijan, Georgia, Kazakhstan, and Uzbekistan among alleged facilitators of mercantilist export schemes.
For XAU/USD, renewed friction between Washington and Beijing reinforces gold's role as a portfolio hedge against escalating tariff disputes and currency volatility. Broader trade uncertainty tends to weigh on risk assets while reinforcing demand for non-yielding safe havens.
Traders should monitor whether this transshipment crackdown triggers retaliatory tariffs, a scenario that could accelerate inflows into gold as a defensive allocation.