Gold Prices Skyrocket to New Record

In a dramatic turn of events, gold prices have surged to a record-breaking high of $2,938 per ounce. This significant leap comes in the wake of President Donald Trump's latest executive order, which imposes a 25% tariff on steel and aluminum imports into the United States. The move has injected a dose of uncertainty into the market, driving investors towards safe-haven assets like gold.

Market Reactions and Precious Metals Update

Following the announcement, the market has seen a notable shift. Silver prices have also experienced a rise, albeit more modest, climbing by 0.34% to $32.17 per ounce. Platinum and palladium weren't left behind, with increases of 0.27% and 0.41% respectively, reaching $991 and $977.25 per ounce. These movements underscore the widespread impact of the new tariffs on the commodities market.