Gold Reaches New All-Time High

In a surprising turn of events, the price of gold skyrocketed to a new all-time high on Monday. This surge came in the wake of an announcement by United States President Donald Trump regarding a new global tariff policy.

New Tariffs on Aluminum and Steel

President Trump revealed plans to impose a 25% tariff on all aluminum and steel imports. The announcement, made during discussions with Japanese Prime Minister Shigeru Ishiba, did not specify an effective date but indicated the tariffs would be implemented immediately. Additionally, Trump hinted at reciprocal tariffs against foreign countries in the coming days, causing investors to flock to safe-haven assets like gold.

Market Reactions

As a result of these developments, gold prices jumped by 1.12% to $2,892.20 per ounce. Silver also saw an increase, rising by 0.60% to $32.05 per ounce. Platinum and palladium experienced modest gains as well, with prices climbing to $985.33 and $963.47 per ounce, respectively.