Unprecedented High for Gold

Gold prices surged to a historic all-time high of $3,168 on Thursday, as investors increasingly turned to the precious metal as a safe haven. This remarkable rally comes against the backdrop of a weakening dollar and escalating trade disputes between Beijing and Washington.

Trade Tensions Escalate

In a significant move, US President Donald Trump imposed a 125% levy on Chinese imports, a decision that followed China's increase in tariffs on American goods to 84%. The economic fallout from these measures was further highlighted by unexpected data showing a decline in US consumer prices for March, despite ongoing inflationary pressures.

Market Reactions

By 11:28 am ET, gold had climbed 2.82%, reaching $3,168.25 per ounce. Silver and platinum also saw gains, with silver rising 0.33% to $31.13 per ounce and platinum increasing 0.63% to $941.24 per ounce. Palladium edged up by 0.21%, trading at the same price as platinum.