Gold and Precious Metals Respond to Trade Tensions

In a significant market movement, gold prices surged by over 1% following the implementation of new tariffs by the United States on Chinese goods. This development comes as part of an escalating trade war between the two economic giants, with President Donald Trump imposing a staggering 104% levy on imports from China.

China's Stance and Market Reactions

Beijing has vowed to resist these measures "to the end," with state-owned enterprises ramping up investments to stabilize the markets. Meanwhile, Trump has accused China of currency manipulation but remains optimistic about reaching a deal. The precious metals market reflected these tensions, with gold reaching $3,015.73 per ounce, while silver, platinum, and palladium also showed varied movements.