Trade War Sparks Rally in Precious Metals

In a dramatic response to escalating trade tensions, gold and silver prices climbed over 1% on Thursday. This surge comes as the international markets react to the latest developments in the trade war, particularly the United States' aggressive stance on tariffs.

Trump's Tariff Announcement Shakes Markets

President Donald Trump's decision to impose a 25% tariff on car imports starting April 2 has sent ripples through the global economy. This move, aimed at protecting the U.S. auto industry, is part of a broader strategy that includes additional measures to be unveiled on the same date.

Precious Metals Market Reaction

At 6:43 am ET, gold was up by 1.13%, trading at $3,053.31 per ounce, while silver saw a 1.29% increase, reaching $34.07 per ounce. Platinum and palladium also experienced gains, with platinum adding 0.44% to $981.76 per ounce and palladium improving by 0.46% to $961.81 per ounce.