Gold prices surged today, with spot gold trading at $3,139.87 per ounce, marking a 1.93% increase from the previous session. This rise comes as investors flock to safe-haven assets amid escalating trade tensions following President Donald Trump’s decision to raise tariffs on Chinese imports to 125%. Despite a temporary 90-day suspension of tariffs for other nations, the heightened conflict with China has fueled concerns over global economic instability, further boosting demand for gold. Analysts predict that gold could reach $3,200 per ounce by the end of the month, driven by inflation fears and geopolitical uncertainty. Since the beginning of 2025, gold has gained over 18%, reflecting its role as a hedge against economic turbulence.
Silver also saw gains, with spot prices climbing above $31 per ounce, extending its upward momentum. The market reacted positively to Trump’s reversal on his reciprocal tariff policy for most nations, reducing tariffs to 10% for 90 days to allow for trade negotiations. However, China’s steep tariffs remain a significant point of contention, sustaining geopolitical uncertainty that supports silver’s safe-haven appeal. Trump’s shift in tariff strategy marks a notable change from his earlier stance of maintaining high tariffs indefinitely. This move has provided temporary relief to markets but underscores the ongoing volatility in global trade relations.
