Gold prices rise sharply due to safe-haven demand following Trump's tariff announcements.

From Yahoo Finance: 2025-04-01 23:06:00

Gold prices surged near all-time highs on Wednesday, driven by safe-haven demand following President Trump’s announcement of reciprocal tariffs, reaching $3,129.46 an ounce. Trump’s move to impose tariffs on all imports to the U.S. and higher duties on major trading partners escalated trade tensions, pushing gold futures to settle at $3,166.20. The dollar index fell 0.4%, boosting gold’s appeal. With uncertainties looming, analysts predict a short-term target of $3,200 for gold. In response to Trump’s tariffs, silver rose to $33.99 per ounce, while platinum and palladium also saw fluctuations. The market awaits the monthly U.S. employment report on Friday.



Read more at Yahoo Finance: Gold prices extend rise after Trump unveils tariff plans