Global gold hits record high as Trump’s new tariffs stoke inflation fears

Updated 2/11/2025 10:56:00 AM
Global gold hits record high as Trump’s new tariffs stoke inflation fears

Arab Finance: Gold prices surged to an all-time high on Tuesday as investors sought safe-haven assets after US President Donald Trump imposed new tariffs on steel and aluminum imports.

The move raised concerns about rising inflation and the possibility of a global trade war.

Spot gold rose 0.3% to $2,916.37 per ounce by 07:01 GMT, after hitting a record high of $2,942.70 earlier in the session.

US gold futures also climbed 0.3% to $2,941.50 per ounce. 

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