Gold Reaches Historic High as Investors Seek Safe Havens

The price of gold surged to a record-breaking $3,237.56 on Friday, as escalating trade tensions between the United States and China drove investors towards safer assets. The precious metal's value climbed steadily, surpassing the $3,230 mark and setting a new all-time high.

Escalating Trade War Fuels Market Uncertainty

China's announcement to increase tariffs on US goods from 84% to 125% has intensified the trade dispute, with neither side showing signs of backing down. This move has further unsettled global markets, prompting a rush to gold and other precious metals.

Precious Metals Market Responds

Following gold's lead, silver advanced by 0.83% to $31.48 per ounce, while platinum and palladium also saw significant gains, jumping 1.06% and 0.99% respectively. These movements underscore the growing investor preference for commodities amid ongoing economic uncertainties.