Gold Hits New All-Time High

In a surprising turn of events, the price of gold soared to a new all-time high. This surge came on the heels of a weaker-than-expected jobs report from the United States, which significantly increased the demand for safe-haven assets like gold.

Trade Tensions and Market Uncertainty

Adding to the market's volatility, ongoing trade tensions between the US and China have played a pivotal role in this development. Furthermore, the potential imposition of tariffs on Mexico and Canada after the 30-day extension period has only added to the prevailing uncertainty.

Market Reaction

At 10:49 am ET, gold prices were up by 1.01%, reaching an astonishing $2,885.07 per ounce. Similarly, silver saw an increase of 0.97%, selling for $32.58 per ounce. Platinum also experienced a slight uptick of 0.08%, trading at $990.06 per ounce. However, palladium bucked the trend, decreasing by 0.64% to $965.04 per ounce.