Gold Prices Surge Amid Trade War Fears

Gold prices experienced a significant surge, climbing 2% on Thursday. This uptick comes as investors increasingly seek safe-haven assets amidst escalating trade tensions between the US and China.

Escalating Tariffs Between Economic Giants

The recent announcement by US President Donald Trump to increase Chinese import tariffs to 125% has further strained relations. This move was in response to China's decision to raise levies on American products to 84%. Despite some positive economic data, these reciprocal duty escalations have overshadowed potential for immediate resolution.

Market Reactions

At 10:15 am ET, gold was trading at $3,144.37 per ounce, marking a 2.01% increase. Meanwhile, silver saw a slight decrease of 0.22%, selling for $30.97 per ounce. Platinum and palladium also experienced modest gains, with platinum up by 0.30% and palladium advancing by 0.19%.