Precious Metals on the Rise as Trade War Intensifies

In a significant market movement, precious metals experienced a notable increase on Thursday. This surge comes in the wake of new developments in international trade that have unsettled global markets. The catalyst for this shift was the announcement by United States President Donald Trump regarding the imposition of a 25% tariff on car imports, set to take effect from April 2.

Market Reactions and Metal Prices

At 6:43 am ET, gold saw a 1.13% increase, reaching $3,053.31 per ounce, while silver rose by 1.29% to $34.07 per ounce. Shortly after, platinum and palladium also witnessed gains, with platinum adding 0.44% to $981.76 per ounce and palladium improving by 0.46% to $961.81 per ounce.