The price of gold fluctuated greatly after President Trump made new rules about buying metal from other countries. Gold reached its highest price ever, at $2,942 for a small piece, but then it dropped back down.
Trump told everyone on Monday that starting in March, companies must pay more money to bring steel and aluminum into America. He thinks this will help American companies make more metal and give more jobs to Americans. He even said these extra costs might become bigger later.
People really want gold this year. Its price has gone up by 11 percent because Trump keeps making big changes that make people worried about their money. When people feel unsure about what will happen, they often buy gold to keep their money safe.
People who buy and sell gold are paying close attention to Jerome Powell from the Federal Reserve. He will talk to Congress this week about money rules in America. They want to know if the government will change how much it costs to borrow money.
More and more people are investing in gold. Big groups that hold gold for others have been buying more gold almost every week since last year. They now have more gold than they did in November.
Some smart people at banks think gold might soon cost $3,000 for a small piece. One big bank, Citigroup, believes this will happen in three months because people are worried about fighting between countries and problems with buying things from other places.
Trump told everyone on Monday that starting in March, companies must pay more money to bring steel and aluminum into America. He thinks this will help American companies make more metal and give more jobs to Americans. He even said these extra costs might become bigger later.
People really want gold this year. Its price has gone up by 11 percent because Trump keeps making big changes that make people worried about their money. When people feel unsure about what will happen, they often buy gold to keep their money safe.
People who buy and sell gold are paying close attention to Jerome Powell from the Federal Reserve. He will talk to Congress this week about money rules in America. They want to know if the government will change how much it costs to borrow money.
More and more people are investing in gold. Big groups that hold gold for others have been buying more gold almost every week since last year. They now have more gold than they did in November.
Some smart people at banks think gold might soon cost $3,000 for a small piece. One big bank, Citigroup, believes this will happen in three months because people are worried about fighting between countries and problems with buying things from other places.
