Gold prices reached their highest levels ever during trading on Monday, as contracts for the yellow metal soared amid large losses and widespread selling that hit the stock and cryptocurrency markets following Trump's latest tariff decisions.
In terms of trading, spot gold prices rose by 0.75% to record $2,818 per ounce, reaching a new historical level after touching $2,830.57 per ounce earlier in the session, while April futures contracts for gold also increased by 0.75% to $2,856.40 per ounce, marking an all-time high.
This recent surge in gold prices comes as investor demand for bullion increases as a safe haven hedge against potential risks posed by a global trade war among major economies, after some countries announced retaliatory tariffs in response to President Trump's 10% tariffs on China just days after imposing 25% tariffs on Canada and Mexico, along with threats of similar tariffs on the European Union and the UK
