Gold Prices Hit Record High

In a remarkable surge, gold prices have crossed the $3,300 mark, setting a new all-time high. This upward trajectory is largely attributed to the growing uncertainties surrounding US trade policies, which have significantly boosted the demand for safe-haven assets like gold.

Trade Woes Deepen Between US and China

The trade conflict between the US and China intensifies as Nvidia reports a staggering $5.5 billion loss 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 straining relations amidst the US's imposition of 145% tariffs on Chinese goods.

Market Reactions

At 3:50 am ET, gold witnessed a 2.19% increase, trading at $3,300.50 per ounce. Silver also saw a rise, advancing by 1.69% to $32.86 per ounce, while platinum remained steady at $962.45 per ounce. Palladium experienced a slight decline, dropping by 0.12% to $957.83 per ounce.