Gold Prices Soar to New Heights

In an unprecedented surge, gold prices have climbed to a new record high, driven by investors seeking safety amidst the escalating tariff dispute between the United States and China. This remarkable increase reflects the growing concerns over the impact of trade tensions on global markets.

US-China Trade War Intensifies

In response to the latest round of US tariffs, China has retaliated by imposing its own set of levies on American imports. This tit-for-tat escalation has further strained relations between the world's two largest economies, despite temporary concessions granted to Mexico and Canada by the US.

Market Reactions

As of 8:31 am ET, gold saw a 0.70% increase, reaching $2,836.12 per ounce. Silver followed suit with a 1.13% rise to $31.86 per ounce. Platinum also experienced a modest gain of 0.71%, trading at $973.5 per ounce. Conversely, palladium witnessed a significant drop, decreasing by 1.66% to $984.52 per ounce.