Gold Prices Surge as Investors Seek Safe Haven Amid Economic Uncertainty
Gold prices have reached an impressive peak, surpassing the $3,000 mark during Asian trading on Tuesday—marking the second occurrence of this feat within a week. This surge reflects investor strategies to mitigate economic concerns stemming from U.S. President Donald Trump’s tariff policies.
In instantaneous trading, gold witnessed a 0.2% increase, rising to $3,008.08 per ounce by 05:49 Baghdad time, following an earlier session high of $3,012.05 per ounce.
Additionally, other precious metals experienced price increases: silver rose by 0.2% to $33.89 per ounce, platinum increased by 0.5% to $1,004.65, and palladium also saw a 0.5% climb, reaching $969.60.
| Metal | Price (USD/ounce) | Change (%) |
|---|---|---|
| Gold | $3,008.08 | +0.2% |
| Silver | $33.89 | +0.2% |
| Platinum | $1,004.65 | +0.5% |
| Palladium | $969.60 | +0.5% |
The current trends signify a pronounced demand for gold and other precious metals as safe-haven assets amidst ongoing economic volatility. Investors appear to be increasingly concerned about the implications of trade policies, prompting a strategic pivot towards these traditionally stable investments.
