Precious Metals Shine Amid Trade War Fears

In a dramatic response to escalating trade tensions, precious metals saw significant gains on Thursday. The market's reaction was immediate following President Donald Trump's announcement of a 25% tariff on car imports, set to take effect from April 2. This move has sparked fears of a broader trade war, driving investors towards traditional safe-haven assets.

Market Reactions in Detail

By 6:43 am ET, gold had climbed by 1.13%, reaching $3,053.31 per ounce, while silver followed closely with a 1.29% increase to $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.