Gold Prices Surge Amid Escalating Trade Tensions

In a significant market movement, gold prices soared by 1% on Tuesday, as global trade tensions intensified. This surge came in the wake of the United States officially imposing long-awaited duties on Canada, China, and Mexico, which were promptly met with countermeasures from the affected countries.

The escalation in trade disputes has seemingly increased the appetite for gold, a traditional safe haven during times of uncertainty. At 4:46 am ET, gold was observed jumping 1.02%, reaching $2,920.49 per ounce. Similarly, silver advanced by 0.88%, selling at $31.88 per ounce. Platinum also saw a gain of 0.38%, going for $960.23 per ounce, while palladium experienced a slight fall of 0.13%, selling at $928.63 per ounce.