Gold Prices Hit Record High

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

US-China Trade Conflict Intensifies

The trade tensions between the US and China took a sharper turn when Nvidia announced a staggering $5.5 billion in charges due to US restrictions on exporting its H20 AI chip to China. In a retaliatory move, China has directed its airlines to stop accepting Boeing aircraft deliveries, responding to the US's imposition of 145% tariffs on Chinese goods.

Precious Metals Market Update

At 3:50 am ET, gold was up by 2.19%, trading at $3,300.50 per ounce. Shortly after, silver saw a 1.69% increase, reaching $32.86 per ounce. Meanwhile, platinum remained steady at $962.45 per ounce, and palladium experienced a slight decline of 0.12%, priced at $957.83 per ounce.