Trump's tariff policies and gold prices reaching record highs

After US President Donald Trump announced the introduction of new tariffs on imported cars, global trade relations have become tense. This situation led to a decline in stock markets, prompting investors to invest in safe assets, including gold. As a result, the price of the precious metal increased further and set a new historical record.

Gold price reaches another record

At 20:34 Tashkent time, the price of gold on the spot market increased by 1.21 percent, reaching $ 3055.69 per troy ounce. During trading, it rose even higher, reaching $ 3057.78. This was the 17th record high for gold since the beginning of this year.

Investors turn to safe-haven assets

Bob Haberkorn, a representative of RJO Futures, said that futures prices could soon reach $3,100. The main reason for this is that investors are choosing gold as a "safe-haven asset." According to Haberkorn, the increase in gold prices is associated with uncertainty surrounding Trump's tariff policy, which is increasing market uncertainty.

Factors affecting gold prices

Investors are waiting for the release of the Personal Consumption Expenditures (PCE) index in the US. This index may indicate the next decisions on interest rates by the US Central Bank (Federal Reserve System - FZT).

"If the PCE index comes out better than expected, it will create more room for gold to rise further because it will give the Fed more room to cut rates," Haberkorn said.

Other precious metals developments

Along with gold, other precious metals continued to rise:

• Palladium rose 0.99 percent to $977.71 an ounce.
  
• Silver rose 1.88 percent to $34.34.
  
• Platinum rose 1.12 percent to $985.55.
  

As global economic uncertainty and tensions over US tariffs continue to mount, investors are increasingly seeking gold as a safe haven. Gold prices could continue to reach new highs in the near future. Follow “Zamin” news on “Telegram”