**********On Tuesday morning (January 21st), spot gold fluctuated slightly higher in the Asian market, currently trading around $2710.51 per ounce. the US PresidenttrumpThere was no immediate collection on MondaytariffThe US dollar index fell 1.22%, recording its largest single day decline in over a year and hitting a low of 107.91, the lowest since January 7thgold priceProviding support, gold prices closed at $2706.91 per ounce on Monday, up about 0.17%.

Trump did not immediately impose tariffs on Monday

US President Trump did not immediately impose tariffs on Monday, but he stated in his inauguration speech that the United States will receive "huge" revenue from foreign trade tariffs, and his administration will be committed to rebuilding American industry.

An official from the Trump administration said that the new president will release a comprehensive trade memorandum that will not immediately impose tariffs, but will instruct federal agencies to evaluate the US trade relations with China, Canada, and Mexico.

After weeks of intense speculation globally about which tariffs will be imposed immediately after Trump is sworn in as the President of the United States, news that Trump will spend more time on tariffs has driven a relief rebound in global stock markets, and other major currencies have also rebounded against the US dollar.

Trump did not mention specific tariff plans in his inauguration speech, but reiterated his intention to establish the External Revenue Service, a new agency responsible for collecting "huge" tariffs and other revenues from abroad.

I will immediately begin a comprehensive reform of our trade system to protect American workers and families, "Trump said. We will impose tariffs and other taxes on foreign countries to make our citizens richer, rather than taxing our citizens. "Trump added that his policies will make the United States" once again a manufacturing nation.

Howard Lutnick, the Commerce Secretary nominated by Trump, has been designated as the overall head of trade policy. He said at a rally that the Foreign Tax Service will "erect a tariff protection wall" for American industry, which will drive foreign companies to build factories in the United States.

During the campaign, Trump vowed to impose high tariffs of 10% to 20% on global imports into the United States and 60% on goods from China to help reduce the current annual trade deficit of up to $1 trillion. After winning the election in November, he said he would sign "all necessary documents" and immediately impose a 25% import surcharge on goods imported from Canada and Mexico if they fail to curb illegal drugs and immigration into the United States. Trade experts believe that such tariffs will tear up long-term trade agreements, disrupt supply chains, and increase costs.

The official confirmed the Wall Street Journal's report citing a summary of Trump's memorandum, stating that the new president will instruct various agencies to investigate and correct long-standing trade deficits, and address unfair trade and monetary policies in other countries.

The official said that the memorandum specifically mentions reviews of China, Canada, and Mexico, but will not announce new tariffs. The official said that the memorandum will instruct relevant agencies to assess the Chinese government's compliance with the 2020 trade agreement with the United States, as well as the status of the USMCA agreement

Affected by this news, the US dollar has generally fallen against a basket of major trading partner currencies, with particularly significant gains in the euro, Canadian dollar, Mexican peso, and Chinese yuan. The MSCI Global Stock Index rose. The US financial market is closed due to the Martin Luther King Day holiday. The US dollar index fell 0.9%, making gold more attractive to foreign buyers.

Market participants have been anticipating that Trump will announce trade tariffs through an executive order. This move will strengthen the resistance to rising inflation andFederal ReserveThe expectation of long-term high policy interest rates.

Marc Chandler, Chief Market Strategist at Bannockburn Global Forex, stated, 'Currently, foreign currencies are experiencing a relief rally.'“

However, he added, "Although Trump did not specify, it is clear that when he said the United States wants to become a major automobile manufacturing country, he was talking about tariffs. Therefore, whether he imposes tariffs on the first, fifth, or tenth day, I am not sure how much difference there will be

The upcoming trade memorandum suggests that Trump will take a more systematic approach, which may include conducting trade investigations under other legal authorizations, such as investigating whether trade poses a threat to national security under Section 232 of the Trade Expansion Act, and investigating unfair trade under Section 301 of the Trade Act. Trump invoked these laws during his first term, and the investigation into steel and aluminum imports took several months.

Canadian Finance Minister Dominic LeBlanc told reporters in Ottawa that studying bilateral trade relations instead of imposing tariffs would be a positive step for the United States. Industry organizations also expressed relief at reports that the United States did not immediately impose tariffs.

"American enterprises will welcome a prudent approach, which can identify unfair trade practices and help Americans succeed in the global economy," said Jake Colvin, chairman of the National Foreign Trade Council.

Trade analysts say they still expect Trump to push for global tariffs in the early stages of his administration.

Global tariffs are a core part of his economic plan proposed during his campaign, and I believe he will keep his word, "said Kelly Ann Shaw, who served as White House trade advisor during Trump's first term. This is an idea he has long supported.

In recent weeks, the price difference between New York futures and spot prices has been raised as traders have priced potential import tariffs from the United States and increased delivery volumes for Chicago based inventory.

UBS analyst Giovanni Staunovo said, 'I believe that President Trump will lead to increased market volatility, and some of his policies may maintain high inflation rates for a longer period of time. This should continue to support safe haven assets such as gold.'.

After the slowdown in core inflation data, dovish remarks from Federal Reserve Governor Waller, and reports of gradually introducing tariffs led traders to increase the number of interest rate cuts this year from only one to two, gold prices hit their highest level since December 12, 2024 last week.

Trump claims that the United States will reclaim the Panama Canal

US President Trump stated on Monday that the United States will reclaim the Panama Canal, but he did not disclose further details in his speech after taking office.

Trump said, "The purpose of our transaction and the spirit of the treaty have been completely violated

Panamanian President Jose Raul Mulino subsequently posted on X stating that the Panama Canal now belongs to Panama and will continue to belong to Panama in the future.

The White House says Trump will make the United States withdraw from the Paris Climate Agreement

The White House announced on Monday that President Trump will once again withdraw the United States from the Paris Climate Agreement, marking the second time in a decade that the United States has withdrawn from global efforts to address climate change.

This decision will make the United States, along with Iran, Libya, and Yemen, the only countries in the world that have not signed the 2015 climate agreement. According to the agreement, governments of various countries agree to limit the global temperature rise to within 1.5 degrees Celsius above pre industrial levels to avoid the most severe impacts of climate change.

The announcement by the White House in a document reflects Trump's skepticism about global warming, which he once called a hoax, and aligns with his broader agenda of leaving American oil and gas drillers unregulated so they can maximize production.

Trump also had the United States withdraw from the Paris Agreement during his first term, although this process took several years and was immediately reversed after Biden became president in 2021. The time for this exit process may be shorter, at least one year, as Trump will not be bound by the initial three-year commitment of the agreement.

Li Shuo, a climate diplomacy expert at the Asia Society Policy Institute, said that the US withdrawal could weaken its ability to compete with Asian powers in key clean energy markets such as solar energy and electric vehicles.

Trump vows to save America from decline and swiftly crack down on illegal immigration

After being sworn in as the President of the United States on Monday, Trump promised to save the country from what he described as years of betrayal and decline, prioritize cracking down on illegal immigration, and portray himself as the chosen savior of the nation.

For American citizens, January 20, 2025 is Liberation Day, "said 78 year old Trump in his inauguration speech in the circular hall of the US Capitol, a symbol of American democracy. God saved me and made America great again, "he said, referring to the attempted assassination in July.

Many people believe that I cannot achieve such a historic political comeback, "he said. I am standing in front of you now to prove that you should never believe that anything is impossible in America. The impossible is what we do best. "Biden sat aside with a polite smile, as Trump harshly criticized his predecessor's immigration and foreign policies and outlined a series of administrative actions aimed at preventing illegal immigration from crossing borders, ending federal diversity programs, and comprehensively reforming international trade.

Firstly, I will declare a national state of emergency at our southern border, "he said." All illegal immigration will immediately cease, and we will begin to repatriate millions of illegal immigrants to their places of origin

Numerous tech executives attempting to please the incoming government, including Elon Musk, CEO of Tesla and SpaceX, Amazon CEO Bezos, and Meta CEO Zuckerberg, held prominent positions on stage alongside cabinet nominees and members of Trump's family.

Trump stated that he will send astronauts to plant the American flag on Mars, which has led Musk, who has long talked about colonizing Mars, to raise his hand in celebration.

Trump has vowed to rename the Gulf of Mexico as the Gulf of America, which is one of several foreign policy ideas he has previously announced that have alarmed US allies.

After the speech, Trump stopped at the Capitol Visitor Center and delivered a longer informal speech to supporters. In this speech, Trump's tone was completely different from his inauguration speech. He expressed doubts about the election process, calling the person accused of participating in the January 6, 2021 assault on Capitol Hill a "hostage" and implying that the congressional investigation into his actions that day was illegal.

In terms of finance, "we will be monitoring whether President Trump will mention fiscal stimulus policies," said Ajay Rajadhyaksha, a research analyst at Barclays Bank.

Putin congratulated Trump before his inauguration ceremony and expressed an open attitude towards negotiating Ukraine and nuclear arms issues

Russian President Putin congratulated US President elect Trump on his inauguration just hours before his inauguration ceremony and expressed his willingness to engage in dialogue with the new US government on Ukraine and nuclear arms issues.

Putin made the above remarks during the Russian Federation Security Council broadcast on Russian state television, expressing his hope for lasting peace in Ukraine rather than a brief ceasefire.

Putin said, 'We have seen statements from the newly elected President of the United States and his team members expressing their desire to resume direct contact with Russia.'.

Putin said, "We also heard his remarks about the need to do everything possible to prevent the outbreak of World War III. We certainly welcome this attitude and congratulate the President elect of the United States on his inauguration

Putin's statement reflects Russia's cautious hope that Trump may be able to start repairing the relationship between Washington and Moscow, which has fallen to its lowest level since the 1962 Cuban Missile Crisis due to Russia's war in Ukraine, although many Russian government officials have publicly stated that they realize this hope may be dashed.

Putin usually holds federal security meetings on Fridays instead of Mondays. He said Russia is willing to hold talks with the new US government on a series of key international issues, including nuclear arms and security, as well as the conflict in Ukraine.

Putin said on Monday, "As for the resolution of the situation in Ukraine itself, what I want to emphasize is that the goal should not be a brief ceasefire, nor a rest period that allows troops to regroup and rearm, but a long-term peace based on respect for the legitimate interests of all people and all ethnic groups living in the region

He also stated that Moscow is ready to discuss nuclear arms control and broader security issues.