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Gold Surpasses $3,000 Per Ounce For First Time Ever
(MENAFN- The Peninsula)
QNA
Washington: Gold prices surpassed USD 3,000 per ounce on Friday for the first time in history, driven by growing global demand for safe-haven assets amid ongoing uncertainty over US tariffs.
In early trading, gold prices jumped 2.94 percent to USD 3,000.85 per ounce, just a day after breaking the previous record set in late February.
The surge in gold prices comes amid heightened instability surrounding trade, employment, inflation, and government spending. President Trump has threatened to impose additional tariffs on Canada and European Union countries.
Trump reaffirmed his commitment to maintaining tariffs on various nations, with the new measures expected to take effect as early as April 2.
Earlier on Friday, gold reached another record high, fueled by uncertainty over US tariffs and concerns over trade tensions. Expectations that the Federal Reserve (the central bank of the United States) may ease its monetary policy have further contributed to the rally.
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