Gold Reaches New Heights

On Friday, the price of gold shattered expectations by surpassing the $3,230 mark, setting a new record high. This surge reflects investors' growing preference for safe-haven assets as trade policies between major economies become increasingly volatile.

Escalating Trade War

The tension between the United States and China took a turn for the worse when China announced a significant increase in tariffs on US goods, from 84% to 125%, demonstrating a firm stance in the ongoing trade dispute.

Market Reactions

Gold momentarily peaked at $3,237.56 before stabilizing at $3,230.11 per ounce by 06:19 am ET, marking a 1.72% increase. Similarly, silver saw a 0.83% rise to $31.48 per ounce, while platinum and palladium also experienced gains, reaching $946.08 and $914.25 per ounce, respectively.