Gold Reaches New Heights

On Friday, the price of gold surged past the $3,230 mark, setting a new all-time high. This remarkable increase comes as investors flock to safe havens, driven by the escalating trade tensions between the United States and China.

Trade Tensions Intensify

China has announced a significant hike in tariffs on US products, escalating from 84% to 125%. This move signifies a hardening stance, with no signs of backing down.

Market Reactions

Gold briefly touched $3,237.56 before settling at a 1.72% increase to $3,230.11 per ounce by 06:19 am ET. Meanwhile, silver saw a 0.83% rise to $31.48 per ounce, platinum jumped 1.06% to $946.08 per ounce, and palladium gained 0.99%, reaching $914.25 per ounce.