Gold jumped to $3,385.27 per ounce Thursday (up 0.9%) as global markets reacted to two major developments:
• Middle East tensions escalated with reports of Israel preparing military action against Iran, prompting partial US embassy evacuations in Iraq. Iran announced new uranium enrichment plans after UN censure.
• President Trump confirmed new tariffs on multiple US trading partners within two weeks, while maintaining current tariff levels with China under a completed trade framework.