Gold Prices Reach New Heights Amid Trade Tensions
Gold prices experienced a significant uptick in trading today, reflecting a new historical benchmark, following U.S. President Donald Trump’s recent announcement regarding potential tariffs on steel and aluminum imports. This move marks a continuation of his administration’s protective trade policies.
Futures contracts for gold set for April delivery rose by 0.78%, equivalent to $22.4, reaching $2,910 per ounce, thereby achieving an unprecedented high. In parallel, the spot price of gold increased by 1% to $2,888.78 per ounce, establishing yet another record. Silver futures for March delivery held steady at $32.43 per ounce, while platinum prices for immediate delivery rose by 0.48%, reaching $983.14 per ounce.
In his remarks yesterday, President Trump indicated plans to impose a 25% tariff on steel and aluminum imports into the U.S., raising concerns regarding a potential escalation into a global trade conflict driven by these policies.
| Metal | Price (Per Ounce) | Change (%) |
|---|---|---|
| Gold (April Delivery) | $2,910.00 | +0.78% |
| Gold (Spot Price) | $2,888.78 | +1.00% |
| Silver (March Delivery) | $32.43 | 0.00% |
| Platinum (Immediate Delivery) | $983.14 | +0.48% |
As global markets respond to these developments, the economic landscape is poised for further volatility connected to trade policy shifts.
