Gold Reaches New Peak

In a remarkable turn of events, gold prices have soared to a new record high, reaching $2,938.53 per ounce. This significant jump of 1.06% comes in the wake of recent trade tensions, as United States President Donald Trump imposes a 25% tariff on steel and aluminum imports.

Market Reactions

Following the announcement, the market has seen a notable shift towards safe-haven assets. Silver, platinum, and palladium also experienced increases, with silver rising by 0.34% to $32.17 per ounce, platinum by 0.27% to $991 per ounce, and palladium by 0.41% to $977.25.

No Exceptions in Sight

President Trump has made it clear that there will be no exemptions or exceptions to these tariffs, hinting at the possibility of even higher rates in the future. This decision has undoubtedly played a pivotal role in the recent surge in gold prices, as investors seek stability amidst growing economic uncertainties.