Gold prices rose again in Asian trading on Thursday, briefly reaching a record high. This happened after Trump announced new 25% duties on cars, pharmaceuticals and semiconductors. This is reported by Investing, according to UNN.
Details
It is noted that spot gold rose by 0.3% to $ 2940.96 per ounce, reaching a record high of $ 2947.23 per ounce at the beginning of the session.
At the same time, gold futures, which expire in April, rose by 0.2% to $2957.80 per ounce.
The publication notes that the day before, US President Donald Trump said that the 25% duties on cars, pharmaceuticals and semiconductors announced by him would be introduced within the next month.
Trump's comments have heightened concerns that the US tariff hike will disrupt global trade and trigger a new trade war between the world's largest economies,
Recall
Last week, gold prices rose in Asian trading, approaching record highs - even as hopes for a peace deal between Russia and Ukraine spurred increased risk appetite in financial markets in general.
The day before, spot gold rose by 0.5% to $2912.81 an ounce in Asian markets amid uncertainty over trade tariffs and US interest rates.