Gold prices soared to historic highs during Asian trading hours as investors flocked to bullion amid looming tariff announcements from President Trump. Spot gold shot up 0.7% to $3,148.10 per ounce, marking its peak price ever, while June Gold Futures increased by 0.3% to $3,158.10 per ounce. This achievement reflects a sustained trend of record-high prices for the yellow metal over four consecutive sessions.

Rising Demand as Tariff Fears Loom

As investor anxiety about impending “reciprocal tariffs” rises, gold’s appeal as a safe-haven asset strengthens. Trump is expected to announce tariffs impacting various nations on April 2, including a potential 25% levy on automotive imports aimed at correcting trade imbalances.

Such significant developments have contributed to the prevailing trade policy uncertainty, coupled with the U.S. dollar’s relative stability, making the shift towards gold an astute decision for many investors.

Other Metals’ Performance

Amidst gold’s rise, other precious metals displayed mixed results:

• Platinum Futures: declined by 0.6% to $1,022.75 per ounce.
• Silver Futures: edged up by 0.3% to $34.715 per ounce.

In contrast, boosted by enhanced manufacturing data from China, copper prices experienced an increase as the Caixin Manufacturing PMI for March reported a rise to 51.2—the highest level since December 2024. This positive industrial activity pushed:

• London Metal Exchange Copper Futures: rose by 0.5% to $9,758.10 per ton.
• May Copper Futures: climbed by 0.3% to $5.0665 per pound.

For real-time market trends and insights on commodities, investors are encouraged to explore updated market data.