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Gold Hits Record High Amid U.S. Tariff Concerns
Gold prices surged to an all-time high on Tuesday as investors turned to safe-haven assets amid growing fears over new U.S. tariffs.
Spot gold rose 0.6% to $3,143.05 per ounce after reaching a record $3,148.88 earlier in the session. Meanwhile, U.S. gold futures climbed 0.6% to $3,169.50. The metal recorded its strongest quarterly performance since 1986 in the previous session.
Among other precious metals, silver dipped 0.1% to $34.04 per ounce, platinum edged down 0.1% to $991.41, while palladium gained 0.8% to $989.19.
U.S. President Donald Trump pledged to announce a broad tariff plan on Wednesday, introducing new trade duties to protect domestic industries and reduce the trade deficit.
Gold surpassed $3,100 per ounce on Monday for the first time, driven by a fresh wave of safe-haven investments amid concerns over U.S. tariffs and potential economic slowdown.