Gold Reaches New Heights Amid Trade Tensions

Investors are flocking to gold as a safe haven, pushing prices to an unprecedented high. This surge comes in the wake of President Donald Trump's announcement of imposing tariffs on key US trading partners, including Mexico, Canada, and China, sparking fears of a global trade war.

Trump's decision to implement a 25% tariff on Mexican and Canadian imports, along with a 10% tariff on Chinese goods, has sent shockwaves through the global markets. The US president's warning that tariffs could escalate if these countries retaliate has further fueled investor anxiety, leading to a significant uptick in gold purchases.

Market Reactions and Precious Metals Performance

As of 9:43 am ET, gold prices climbed by 0.68% to $2,818.46 per ounce, marking a historic peak. Silver also saw a modest increase of 0.13%, trading at $31.34 per ounce. In contrast, platinum experienced a sharp decline of 2.13%, while palladium prices rose by 1.72%, reflecting the volatile nature of the current market.