Gold Hits Record High as Investors Seek Safe Havens

In a remarkable surge, gold prices have surpassed the $3,300 mark, setting a new all-time high. This upward trajectory is largely attributed to growing apprehensions surrounding US trade policies, driving investors towards safer assets.

US-China Trade War Intensifies

The trade conflict between the US and China has taken a turn for the worse, with Nvidia announcing a staggering $5.5 billion in charges due to US restrictions on AI chip exports to China. In a retaliatory move, China has ordered its airlines to stop accepting Boeing aircraft deliveries, further escalating tensions.

Market Reactions

At 3:50 am ET, gold was up by 2.19%, trading at $3,300.50 per ounce. Silver also saw an increase, advancing by 1.69% to $32.86 per ounce. Meanwhile, platinum remained stable at $962.45 per ounce, and palladium experienced a slight decline of 0.12%, selling at $957.83 per ounce.