Gold prices scaled an all-time high, briefly touching the $2,800 mark, as market participants rushed to the safe-haven asset after U.S. president Donald trump reiterated his tariff threats.
Spot gold steadied at $2,794.58 per ounce by 0930 GMT, after hitting record peak of $2,800.99 earlier in the session. Prices rose over 6% for the month and 1% for the week.
U.S. gold futures were little changed at $2,824.90.
“The rally could hold for as long there is uncertainty in the market. A lot of today’s uncertainty stems from not knowing whether and how tariffs will be applied,” said WisdomTree commodities strategist Nitesh Shah.
Trump reiterated on Thursday the United States would impose a 25% duty on imports from Mexico and Canada and said he was still considering new tariffs on Chinese goods.
