The exchange price of an ounce of gold for the first time in history exceeded the mark of $3000.
The growth of quotations was fuelled by the increase in demand for safe assets in the world amid increased trade tensions.
The cost of gold reached a record high after US President Donald Trump imposed duties on metals.
In addition, investors revised their expectations regarding the state of the U.S. economy and the dynamics of interest rates in the Federal Reserve System after the publication of the latest inflation data.
Last Wednesday, the tariffs that Trump imposed on steel and aluminum imports came into effect.
This caused concern in Asian countries that rely on the exports and led to immediate retaliation from the European Union and Canada.
According to Yip Jun Rong, market strategist at UK-based IG Group, risk aversion in the market indicates that investors expect trade tensions to escalate further.
As such, they are once again turning to gold as a safe-haven asset that will help them protect themselves from market fluctuations.
Killer Whales Attacking Boats Near Spain and Portugal: White Gladis and Her Pod's Enigmatic New…
Nefertiti's Tomb: Archaeologists Closer to Greatest Discovery of the Century Prominent Egyptologist Zahi Hawass has…
China's population decreased by 3.39 million people China's population decline continued into 2025, with the…
Global Inequality: Billionaires Set New Wealth Records While Elite Influence Expands The divide in global…
Armed Robbery Hits New Pokemon Card Store in New York: Robbers Escape with $100,000 in…
China's Rare Double Rocket Failure: Long March 3B and Ceres-2 Missions Fail Within Hours on…