Gold Prices Hit Record High Amid Trade Uncertainties

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 concerns over US trade policies, which have spurred investors to flock towards safe-haven assets.

US-China Trade Conflict Intensifies

The trade dispute 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 chip exports to China. In a retaliatory move, China has directed its airlines to stop accepting Boeing aircraft deliveries, further escalating tensions.

Precious Metals Market Update

As of 3:50 am ET, gold was trading at $3,300.50 per ounce, marking a 2.19% increase. Silver also saw a rise, 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.