Gold prices surged to a new all-time high on Wednesday, shortly after US President Donald Trump revealed sweeping new tariffs on most US trading partners.
The precious metal surpassed its previous record around 2300 GMT and continued to climb, reaching over $3,150 per ounce. Gold with a June 2025 expiry touched an all-time high on the Multi Commodity Exchange (MCX). The sharp rise in gold prices came as investors sought refuge in the safe haven asset amid a significant decline in stock market futures.
The tariffs have heightened trade tensions and led to increased volatility in financial markets.
It imposes baseline duties on imports from several countries.
Gold became a major choice as investors seek safe-haven assets, causing the commodity to rise to unprecedented levels.
More to follow…
