Gold prices surged to a record high on Tuesday as investors turned to safe-haven assets following U.S. President Donald Trump’s decision to impose a 25% tariff on steel and aluminum imports. The move sparked fears of a trade war and rising inflation.
اضافة اعلانAccording to Bloomberg News, spot gold rose 1.1% to reach $2,939.80 per ounce after hitting a record high of $2,942.70 earlier in the session. U.S. gold futures also climbed 1.1% to $2,966 per ounce.
On Monday, Trump announced an increase in tariffs on steel and aluminum imports to 25% "without exceptions or exemptions," a move aimed at supporting the struggling industries but raising the risk of a multi-front trade war.
Among other precious metals, silver gained 0.4% in spot trading to reach $32.16 per ounce. Platinum declined 0.4% to $989.50, while palladium edged up 0.4% to $986.97 per ounce.
