Gold Prices Hit Historic High Amid U.S. Tariff Threats and Global Trade War Fears.
Gold prices have surged to a historic high, reaching $2,945.83 per ounce, driven by global trade war fears sparked by U.S. President Trump's tariff threats. Economic uncertainty and rising inflation concerns have pushed investors toward gold as a safe-haven asset. Experts predict prices could soon surpass $3,000 per ounce.
Gold Prices Soar to Historic High Amid Global Trade War Fears
Fears of a global trade war triggered by U.S. President Donald Trump's tariff threats have driven gold prices to an all-time high.
Gold Hits Record-Breaking Price
Gold prices surged by 0.5%, reaching $2,945.83 per ounce in the stock market. Experts attribute this rise to escalating political and economic tensions worldwide.
In the U.S. futures market, gold climbed by 0.9%, hitting $2,963.80 per ounce.
Similarly, in India, the price of 99.9% pure 24-karat gold reached ₹89,400 for 10 grams, while 99.5% pure 24-karat gold increased by ₹50, reaching ₹89,050 for 10 grams.
Reasons Behind the Price Surge
The primary driver of this price increase is investor concern over global inflation risks, pushing many towards gold as a safe-haven asset.
President Trump's 10% tariff on Chinese imports and 25% tariffs on steel and aluminum have intensified economic uncertainty. Additional tariffs on wood, cars, semiconductors, and pharmaceuticals are expected soon, potentially impacting markets further.
The Federal Reserve has also highlighted the risk of rising inflation due to these trade policies during its recent meeting.
Analysts predict that gold prices could soon cross the $3,000 per ounce mark if current trends continue.
What's Your Reaction?
