Gold: Prices go all-time high as Trump tariff concerns drive high demand
New Delhi: Gold prices reached a record all-time high on Friday, set for their best month since March 2024.
Spot gold was up 0.2 percent at USD 2,798.96 per ounce by 0749 GMT, gaining more than 6 percent this month. Prices hit an all-time high of USD 2,800.99 earlier. US gold futures rose 0.1 percent to USD 2,826.50.
Trading was affected as the Chinese market was closed during the Lunar New Year holidays. On Thursday, US President Donald Trump reiterated that the government may increase the tariffs up to 25 percent on Canadian and Mexican imports.
The repeated tariff threats have turned gold into a safer investment for the investor, which might not be that volatile. The awaiting inflation could suggest greater flexibility in the federal policy, possibly bringing a rate cut.
