Investors Flock to Gold Amid Trade Tensions

As global markets reel from the latest developments in international trade policies, gold prices have surged to unprecedented levels. The spike comes in the wake of President Donald Trump's announcement of new tariffs on imports from key trading partners, including a 25% levy on goods from Mexico and Canada, and a 10% tariff on Chinese imports.

Trump's Tariff Strategy Sparks Global Concerns

President Trump's aggressive tariff strategy has not only targeted North American neighbors but also extended to threats against the European Union, raising alarms over a potential global trade war. The President's warnings that tariffs could escalate further if Canada and Mexico retaliate have added to the market's unease.

Market Reactions and Precious Metals Performance

In response to these developments, gold prices climbed by 0.68% to reach $2,818.46 per ounce, marking a new all-time high. Silver also saw a modest increase, while platinum experienced a significant drop, and palladium prices rose, reflecting the volatile nature of the current market environment.