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Gold Hits Seventh Record This Year as Trade Fears Mount

Global gold markets are experiencing a remarkable surge, with spot gold jumping 1.4% to reach a historic high of $2,903.08 per ounce – marking its seventh record this year.

The rally is primarily driven by safe-haven demand following President Trump’s announcement of new steel and aluminum tariffs, along with plans for reciprocal tariffs.

Meanwhile, London’s gold vaults reported a 1.7% decrease in holdings due to increased U.S.-bound shipments. The precious metals rally has extended to silver, platinum, and palladium, though market participants remain watchful of upcoming U.S. inflation data that could influence Federal Reserve policy decisions.

Original Source: tribune.com

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