Gold Hits Record $3,200 as Trade War Rattles Global Markets

Escalating tariffs from President Trump and a weakening dollar drive investors toward safe-haven assets like gold, with central banks bolstering demand.

Gold prices surged past $3,200 per ounce, reaching an all-time high as investors sought refuge from escalating US-China trade tensions.
President Trump raised tariffs on Chinese imports to 145%, prompting retaliatory measures from China and intensifying global economic uncertainty.
The US dollar weakened sharply, losing its safe-haven appeal, while investors shifted to assets like gold, the Swiss franc, and the Japanese yen.
Central banks continue to increase gold purchases at record levels, diversifying reserves away from the US dollar amid geopolitical risks.
Short-term sell-offs in gold due to margin calls have caused brief volatility, but analysts expect sustained long-term demand for the metal.

South China Morning Post

Australian Broadcasting Corporation