Gold reached a record high on Thursday as investors flocked to safe-haven assets following U.S. President Donald Trump’s announcement of larger-than-expected tariffs on key trading partners, further escalating the global trade war.
اضافة اعلان
Gold in spot trading rose 0.4% to $3,145.93 per ounce by 00:18 GMT, after hitting an all-time high of $3,167.57 earlier in the session.
U.S. gold futures also increased by 0.1% to $3,170.70.
On Wednesday, Trump stated that he would impose a 10% basic tariff on all imports into the U.S., along with higher tariffs on dozens of countries, including some of the U.S.'s largest trading partners. This decision exacerbates an already volatile global trade war and confounds Washington's allies.
Trump's administration also confirmed that the 25% global tariffs on cars and trucks would go into effect as scheduled on April 3, and tariffs on car parts imports would start on May 3.
Gold is typically seen as a hedge during times of political and financial uncertainty. Its price has surged more than 19% since the beginning of the year, driven by the ambiguity surrounding tariffs, the potential for interest rate cuts, geopolitical conflicts, and central bank purchases.
As for other precious metals, silver dropped 1.2% in spot trading to $33.61 per ounce, platinum fell 0.8% to $975.93, and palladium declined by 0.6% to $964.56. (Al-Mamlakah)
