Gold prices skyrocketed to an all-time high of $2,814.62 per ounce this week, shattering the $2,800 barrier for the first time ever. 💰 The surge comes as investors brace for new US tariffs targeting the Chinese mainland, Mexico, and Canada—announced by former US President Donald Trump—and seek safer assets amid market uncertainty.
📉 Stock markets wobbled in response: the Dow Jones dropped 0.7%, the S&P 500 fell 0.5%, and the Nasdaq dipped 0.3%. Meanwhile, the US dollar flexed its muscles, with the dollar index climbing 0.31% to 108.42. Even oil joined the rally—US crude hit $73.48 a barrel after the US softened proposed tariffs on Canadian oil. 🛢️
Why the gold rush? Analysts say traders are hedging bets as global trade tensions threaten to disrupt markets. 🌐 'Gold’s the ultimate safety net when the economic tightrope gets shaky,' one expert quipped.
