Gold Reaches New Heights Amid Trade Tensions

In a dramatic response to escalating trade tensions, gold prices surged to an all-time high. This spike comes in the wake of President Donald Trump's announcement of new tariffs on imports from Mexico, Canada, and China, signaling a potential global trade war.

Trump's aggressive trade policies, including a 25% tariff on Mexican and Canadian imports and a 10% tariff on Chinese goods, have raised alarms. The President's warning that tariffs could worsen if these countries retaliate has only added to the uncertainty, pushing investors towards the safety of gold.

Market Reactions

At 9:43 am ET, gold prices climbed by 0.68%, reaching $2,818.46 per ounce. Silver also saw a modest increase of 0.13%, while platinum experienced a significant drop of 2.13%. Palladium, on the other hand, rose by 1.72%, reflecting the complex dynamics of the current market.