Precious Metals Rally as US Tariffs Spark Market Turbulence

In a dramatic shift, precious metals have extended their gains, with gold leading the charge to a five-day high. This surge comes as the United States implements new tariffs, pushing investors towards safer assets amidst growing market uncertainty.

Gold soared by 2.11% to $3,046.02 per ounce, while silver followed closely with a 1.31% increase to $30.20 per ounce. Not to be outdone, platinum and palladium also saw gains, rising by 0.32% and 0.90% respectively.

Investors Flock to Precious Metals

The recent uptick in precious metals prices underscores the market's nervousness in the face of new US tariffs on China. As investors seek stability, gold and silver have emerged as the go-to assets for those looking to hedge against potential market downturns.