Gold Prices Surge to Record High Amid New US Tariffs

Gold prices have reached an all-time high, surpassing $3,160 per ounce, following the announcement of new trade tariffs by the US President. The newly introduced “reciprocal” tariffs impose a minimum 10% levy on imports, sparking concerns of a potential global economic slowdown.

According to international media reports, gold remains one of the few commodities unaffected by these tariffs. Its status as a safe-haven asset was reinforced as prices surged by 1.1% in early Asian trading, shortly after the President’s speech in the Rose Garden. This increase followed a 0.7% gain recorded on Wednesday.

The new tariff policy imposes a minimum 10% duty on all US imports, with higher rates targeting countries with significant trade imbalances. China faces a 34% tariff, while the European Union and Vietnam will be subject to 20% and 46% tariffs, respectively.

Investor interest in gold has intensified due to growing concerns about the global economy. The metal has already gained 20% this year, continuing its strong rally from 2024, which was driven by substantial central bank purchases and high demand from Asia.

Spot gold hit a record-breaking $3,167.84 per ounce after previously peaking at $3,149 on Tuesday. While silver and palladium recorded declines, platinum showed slight gains.