Gold Hits All-Highs Over US Tariff Policy Concerns

2025-04-01 02:00:47

(MENAFN- The Peninsula) QNA

Singapore: Gold prices have hit new record highs with safe-haven demand increasing amid inflation and slowdown concerns due to US tariff policy.

Spot gold rose 0.6 percent to $3,143.05 per ounce, after hitting an all-time high of $3,148.88 earlier in the session.

US gold futures rose 0.6 percent to $3,169.50, with gold prices recording their best quarterly performance since 1986 in the previous session.

As for other precious metals, spot silver fell 0.1 percent to $34.04 per ounce, platinum fell 0.1 percent to $991.41, and palladium rose 0.8 percent to $989.19.

US President Donald Trump pledged to announce a broad tariff plan Wednesday, imposing a series of new tariffs aimed at protecting American industries and reducing the trade deficit.

Gold prices surpassed $3,100 an ounce for the first time Monday amid a new wave of investment in safe-haven assets amid concerns about US tariffs and a potential economic slowdown.

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