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Gold Hits Seventh Record This Year as Trade Fears Mount

Gold Hits Seventh Record This Year as Trade Fears Mount

Global gold markets are experiencing a remarkable surge, with spot gold jumping 1.4% to reach a historic high of $2,903.08 per ounce – marking its seventh record this year.

The rally is primarily driven by safe-haven demand following President Trump’s announcement of new steel and aluminum tariffs, along with plans for reciprocal tariffs.

Meanwhile, London’s gold vaults reported a 1.7% decrease in holdings due to increased U.S.-bound shipments. The precious metals rally has extended to silver, platinum, and palladium, though market participants remain watchful of upcoming U.S. inflation data that could influence Federal Reserve policy decisions.

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