Gold hits record high as prices soar above $3,100 per ounce for the first time. This surge came after U.S. President Donald Trump imposed 25% tariffs on automobile imports. Investors turned to gold as a safe haven amid escalating trade tensions.
Gold hits record highs as Trump’s tariffs triggered losses across global markets. Stocks in the U.S. and Asia fell sharply. As a result, investors rushed to gold, pushing prices to record highs. Spot gold rose 1.2% to $3,056.60 per ounce. Gold futures for May increased by 1.5%, closing at $3,099.20 per ounce.
The latest tariffs will affect major economies, including Japan, Europe, and South Korea. U.S. car prices are expected to rise, which could increase inflation. Trump also plans new tariffs on commodities, semiconductors, and pharmaceuticals. This uncertainty is keeping investors focused on gold.
Other metals also saw gains. Platinum futures increased by 2.07%, while silver rose 3.2%. Copper prices remained volatile as investors awaited further tariff developments. U.S. copper futures hit a record high this week.
Goldman Sachs revised its 2025 gold price target to $3,300 per ounce (detail). The bank expects strong central bank purchases and ETF inflows to drive prices higher. If the U.S. economy weakens, gold demand may rise further. Prices could reach $3,680 per ounce by the end of 2025.
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Gold hits record highs as Trump’s tariffs shake markets. Investors rush to gold amid inflation and trade war fears.
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