Gold Reaches Historic Peak

On Friday, the price of gold not only surpassed the $3,230 mark but also set a new all-time high, as investors increasingly turned to safe havens amidst escalating trade policy uncertainties.

Escalating US-China Trade War

The tension between the United States and China took a sharper turn when China declared an increase in tariffs on US goods, from 84% to 125%, showcasing its refusal to back down.

Market Reactions

Gold momentarily hit $3,237.56 before settling at a 1.72% increase to $3,230.11 per ounce by 06:19 am ET. Similarly, silver saw a 0.83% rise to $31.48 per ounce, while platinum and palladium also experienced gains, jumping 1.06% to $946.08 and 0.99% to $914.25 per ounce, respectively, by 6:23 am ET.