Gold price hits CAD $6,087/oz after Bank of Canada holds rates, says ‘US tariffs and threats of further action pose risks’

(Kitco News) - The Bank of Canada (BoC) maintained its key overnight rate at 2.25% on Wednesday, as expected, with the bank rate staying at 2.50% and the deposit rate remaining at 2.20%. The BoC said the ongoing conflict in the Middle East is keeping energy prices high. “As well, new US tariffs and Canadian counter-measures have been announced following the breakdown of trade talks between Canada and the United States,” they said. “Both situations remain fluid.”