US EditionGold Prices Surge to Record High of $2,931 as Trade Tensions Escalate
- Gold prices reached a record high of $2,931 on February 11, as investors sought safe-haven assets after U.S. President Donald Trump imposed new 25% tariffs on steel and aluminum imports, raising trade war concerns and inflation risks.
- Spot gold increased to $2,939.80 per ounce, while U.S. Gold futures rose to $2,966.00, reflecting a strong demand for gold amid economic uncertainties.
- Kyle Rodda, a financial market analyst at Capital.com, stated that the risk of a global trade war is influencing trading behavior, driving markets to seek exposure to gold as part of a de-dollarization theme.
- Lukman Otunuga, a senior research analyst at FXTM, noted that while tariff fears could support silver prices, industrial demand may decline due to Trump's tariffs.
74 Articles
74 Articles
The Nasdaq slips as Trump's trade war heats up, while gold rises to a record high
The Nasdaqand other stock market indices were down Tuesday afternoon following President Trump’s approval of tariffs on steel and aluminum earlier in the week. The European Union, meanwhile, has vowed to retaliate against the President’s tariffs. Read more...
Trump's fresh tariffs catapult gold prices to record peaks
Gold prices soared to a record high on Tuesday, as investors flocked to the safe-haven asset after U.S. President Donald Trump imposed new 25% tariffs on steel and aluminium imports, fuelling concerns over a potential trade war and inflation. Spot gold was up 1.1% at $2,939.80 per ounce, as of 0229 GMT, after hitting a record high of $2,942.70 earlier in the session. U.S. gold futures also climbed 1.1% to $2,966.00. Trump substantially raised ta…
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