Gold Reaches New All-Time High

In a dramatic turn of events, the price of gold surged to an unprecedented all-time high following the announcement of new tariffs by United States President Donald Trump. The precious metal climbed by 1.12% to reach $2,892.20 per ounce early Monday morning.

Impact of New Tariffs

President Trump revealed plans to impose a global 25% tariff on all aluminum and steel imports, a move that has sent shockwaves through the markets. While the exact implementation date remains unspecified, the announcement has already prompted investors to flock to safe-haven assets like gold and silver.

Market Reactions

Alongside gold, other precious metals also saw increases. Silver rose by 0.60% to $32.05 per ounce, platinum increased by 0.30% to $985.33 per ounce, and palladium was up by 0.04%, selling for $963.47 per ounce. These movements underscore the market's nervousness in the face of potential trade wars and economic uncertainties.