Gold Prices Surge Amid Trade Tensions

Gold prices experienced a significant surge, climbing 2% on Thursday. This uptick is attributed to investors increasingly seeking safe-haven assets as trade relations between the US and China continue to deteriorate.

Trade War Escalation

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 earlier decision to raise levies on American products to 84%. Despite some positive economic data, these escalations have dominated market sentiments.

Market Reactions

At 10:15 am ET, gold was trading at $3,144.37 per ounce, marking a 2.01% increase. In contrast, silver saw a slight decline of 0.22%, while platinum and palladium experienced minor gains.