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.