Gold Reaches New Heights as Investors Seek Safety

In a dramatic turn of events, gold prices soared to an unprecedented all-time high of $2,960.56 per ounce. This surge comes in the wake of President Donald Trump's announcement of potential new tariffs on European Union alcohol, further escalating trade tensions. Trump's comments, suggesting that "the entire world is ripping us off," have left investors scrambling for the safety of gold.

Market Reactions to Trade Uncertainties

At 10:42 am ET, gold experienced a significant jump of 0.92%, while silver saw a modest increase of 0.26%, reaching $33.34 per ounce. Contrarily, platinum and palladium faced declines, with platinum dropping by 0.41% to $982.75 and palladium decreasing by 0.53% to $934.25 per ounce. These market movements underscore the growing investor anxiety over global trade disputes.