Gold hits record high as Trump announces steel, aluminum tariffs

Updated 2/10/2025 11:28:00 AM
Gold hits record high as Trump announces steel, aluminum tariffs

Arab Finance: Gold prices surged to a record high after US President Donald Trump announced plans to impose tariffs on steel and aluminum imports, fueling uncertainty in global financial markets, Bloomberg reported.

Bullion reached an all-time high above $2,895 per ounce, following a 2.2% gain the previous week.

Demand for safe-haven assets rose as Trump declared that 25% tariffs would be applied to steel and aluminum imports from all countries.

However, he did not specify the timeline for their implementation. 

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