The price of gold reached a new all-time high on Monday after United States President Donald Trump announced a new global 25% tariff on all aluminum and steel imports.
The US president noted that the new tariffs will be imposed today but did not specify when they would take effect. While talking to Japanese Prime Minister Shigeru Ishiba, Trump also noted that he will impose reciprocal tariffs against foreign countries on Tuesday and Wednesday, which prompted investors to turn to safe-haven assets.
Gold climbed by 1.12% to sell for $2,892.20 per ounce at 1:48 am ET, while silver rose by 0.60% to go for $32.05 per ounce at the same time. Platinum increased by 0.30%, selling for $985.33 per ounce at 1:54 am ET, and palladium was up by 0.04% and sold for $963.47 at 1:55 am ET.
