Gold Prices Climb as US Imposes Hefty Tariffs on China

In a significant development, gold prices experienced a notable increase, rising over 1% following the implementation of substantial tariffs by the United States on Chinese goods. This move by President Donald Trump, imposing a staggering 104% tariffs, has intensified the trade tensions between the two economic giants.

China's Stance and Market Reactions

Beijing has firmly opposed these measures, pledging to resist Trump's tariff policies "to the end." In response, Chinese state-owned enterprises are ramping up investments to stabilize the markets. Meanwhile, Trump has accused China of currency manipulation but remains optimistic about reaching a deal.

Precious Metals Market Update

At 7:30 am CET, gold was up by 1.08%, trading at $3,015.73 per ounce. Silver remained stable at $29.82 per ounce, while platinum and palladium saw modest gains, trading at $923.20 and $896.82 per ounce, respectively.