Gold Reaches Unprecedented Highs

In a remarkable turn of events, gold prices have soared to an all-time high, reaching $2,960.56 per ounce. This surge comes in the wake of President Donald Trump's announcement of potential new tariffs on European Union products, specifically targeting alcohol. The President's comments about the world 'ripping us off' have further fueled the uncertainty, driving investors towards the relative safety of gold.

Market Reactions and Trends

At 10:42 am ET, gold experienced a 0.92% increase, while silver saw a modest rise of 0.26%. Conversely, platinum and palladium prices faced declines, dropping by 0.41% and 0.53% respectively. These movements highlight the volatile nature of the market amidst ongoing trade tensions and the shifting preferences of investors towards safer assets.