Gold Hits All-Time High

In a stunning turn of events, gold prices have reached a new all-time high. This surge comes in the wake of a weaker-than-expected US jobs report, which has significantly increased the demand for safe-haven assets. The market's reaction underscores the growing concerns over the health of the US economy and the global impact of ongoing trade disputes.

Trade Tensions Fuel Market Uncertainty

Adding to the market's unease are the escalating trade tensions between the United States and China. Furthermore, the potential imposition of tariffs on Mexico and Canada after the conclusion of a 30-day extension period has injected additional uncertainty into the global markets. These developments have not only affected gold prices but have also had a ripple effect across other precious metals.

Precious Metals Market Update

At 10:49 am ET, gold was up by 1.01%, trading at $2,885.07 per ounce, while silver saw a 0.97% increase, selling for $32.58 per ounce. Platinum experienced a slight uptick of 0.08%, reaching $990.06 per ounce shortly after. In contrast, palladium prices fell by 0.64% to $965.04 per ounce at the same time, highlighting the volatile nature of the precious metals market in response to global economic indicators.