Gold prices surged to an all-time high due to investors seeking safe-haven assets amid the escalating trade war sparked by Trump's tariffs. The uncertainty surrounding the trade conflict drove investors to flock to gold, considered a reliable store of value during geopolitical turmoil.
The tariffs imposed on US imports by China, and Trump's subsequent threats to impose tariffs on Mexican and Canadian imports, fueled concerns about the global economy and led to a surge in gold prices. Additionally, the low interest rate environment and central bank buying further supported the rise in gold prices.
As the trade tensions escalated, gold delivered to COMEX-approved warehouses rose to the highest level since July 2022, and spot gold reached an all-time high of $2,800.99 per ounce. With the ongoing trade uncertainty, gold is likely to remain a popular safe-haven asset.
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Last updated: 03/14/2025 10:56
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