Gold reached an unprecedented peak of $3,168 on Thursday as investors flocked to its safe-haven asset amid a weakening dollar and intensifying commercial tensions between Beijing and Washington.
US President Donald Trump imposed a 125% levy on Chinese products after lowering hefty duties on dozens of countries shortly after China elevated its tariffs on American goods to 84%. Economic indicators released Thursday revealed an unexpected decline in US consumer prices during March, though inflationary pressures remain elevated following Trump's aggressive stance on Chinese tariffs.
Gold gained 2.82% at 11:28 am ET, going for $3,168.25 per ounce. Silver increased by 0.33% and sold for $31.13 per ounce a minute later. Platinum added 0.63% at the same time, selling for $941.24 per ounce and palladium improved by 0.21% to go for $941.24 per ounce.
