APMEX: Do Tariffs Affect Gold and Silver Prices?

Throughout economic history, tariffs have been a potent tool wielded by governments to protect domestic industries, generate revenue, or exert political influence. However, their impact often extends beyond immediate economic intentions, triggering broader shifts that can ripple through financial markets and affect asset classes such as gold and silver. In examining the effects of the Smoot-Hawley Tariff of 1930 and Nixon’s economic measures in 1971, we can glean important insights into how today’s potential tariffs might influence the future of precious metals. Enacted in the midst of the Great Depression, the Smoot-Hawley Tariff raised duties on hundreds of imported goods,…