Gold Price Surges to New Record as Tariff Threat Drives Up Uncertainty
2025-02-10 16:01:22
Gold was racking up big gains on Monday, hitting a new high as President Donald Trump’s latest tariff threats caused investors to pile into the yellow metal.
Bullion futures rose 1.5% to $2,931 per Troy ounce in early trading. The surge came after Trump escalated trade tensions by promising to impose 25% levies on steel and aluminum imports. High levels of uncertainty tend to boost demand for gold, seen as a safe haven due to its low volatility and stable price.
“Gold continues to hit new all-time highs, and the high uncertainty should justify increased positioning,” XS.com analyst Samer Hasn said Monday, arguing that investors will put even more cash into the precious metal if Trump’s latest tariffs pledge escalates into a broader trade war.
