Gold Prices Hit Record High

On Wednesday, gold prices surpassed the $3,300 mark, setting a new all-time high. This remarkable surge is attributed to growing investor concerns over US trade policies, which have significantly increased demand for safe-haven assets like gold.

US-China Trade Conflict Intensifies

The trade tensions between the US and China took a sharper turn as Nvidia announced a $5.5 billion loss due to US restrictions on AI chip exports to China. In a retaliatory move, China has instructed its airlines to stop accepting Boeing aircraft deliveries, responding to the US's imposition of 145% tariffs on Chinese goods.

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, rising 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.