Gold Prices Hit Record High

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 investor anxiety over the ongoing US-China trade disputes, driving a heightened demand for safe-haven assets.

Trade Tensions Intensify

The trade conflict between the US and China has taken a sharper turn with Nvidia's announcement of a $5.5 billion charge due to US restrictions on AI chip exports to China. In a retaliatory move, China has directed its airlines to stop accepting Boeing aircraft deliveries, further straining relations.

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 steady at $962.45 per ounce, and palladium experienced a slight decline, dropping 0.12% to $957.83 per ounce.