International Gold Prices Hit Record High Amid US-China Tariff War... $2800 per Ounce
Summary
- International gold prices have reached a record high due to the tariff war between the United States and China.
- The spot gold price rose to $2,845.14 per ounce, and the gold futures closing price increased by 0.7% to $2,875.5 per ounce compared to the previous day.
- The demand for gold, a safe asset, is increasing, and investors continue to prefer gold.
International gold prices have reached a record high. This is due to the outbreak of the tariff war between the United States and China.
According to Reuters on the 4th (local time), the spot gold price during the day recorded $2,845.14 per ounce, breaking the all-time high record.
The April delivery gold futures traded on the New York Mercantile Exchange closed at $2,875.5 per ounce, up 0.7% from the previous day.
This is the aftermath of the US-China tariff war. According to an executive order signed by US President Donald Trump on the 1st, the US will impose an additional 10% tariff on China starting today. In response, China also announced retaliatory measures, including imposing an additional 10-15% tariff on US imports and controlling the export of rare minerals.
As market instability arises, the demand for gold, a representative safe asset, is interpreted to have increased.
International gold prices have been on an upward trend since President Trump's inauguration last month, repeatedly breaking record highs.
Hankyung reporter Han Kyung-woo case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
