Gold Hits Record High Amid Economic Uncertainties

The price of gold has reached an all-time high of $3,261.75, as investors flock to safe-haven assets amidst escalating trade tensions between the United States and China.

Trade Tensions Escalate

US President Donald Trump has announced plans to impose tariffs on semiconductors from China, a move that has heightened economic uncertainties. In response, tech giant Nvidia has projected a potential $5.5 billion loss due to new restrictions on US chip exports to China.

Market Reactions

At 8:19 pm ET, gold prices rose by 0.93% to $3,259.68 per ounce. Shortly after, silver saw a modest increase of 0.14%, while platinum and palladium experienced slight declines.