Gold Prices Hit Record High

On Wednesday, gold prices surged past the $3,300 mark, setting a new all-time high. This remarkable increase is attributed to growing concerns over US trade policies, which have driven investors towards safe-haven assets.

US-China Trade Conflict Intensifies

The trade dispute between the US and China took a turn for the worse when Nvidia announced a staggering $5.5 billion in charges due to US restrictions on chip exports to China. In retaliation, China has ordered its airlines to stop accepting Boeing aircraft deliveries, further escalating tensions.

Market Reactions

By 3:50 am ET, gold had climbed by 2.19% to $3,300.50 per ounce. Silver also saw an increase, rising by 1.69% to $32.86 per ounce. Meanwhile, platinum remained steady at $962.45 per ounce, and palladium experienced a slight decline.