Gold prices surged to a record high of $2,942 an ounce before steadying, amid concerns over a potential global trade war. The precious metal’s value rose sharply following US President Donald Trump’s imposition of tariffs on steel and aluminum imports. Despite the initial surge, gold prices eventually pared back as trading hours ended in Asia. The president’s warning that tariffs could be increased further has fueled market uncertainty, driving gold to record highs.
Source: https://www.bloomberg.com/news/articles/2025-02-10/gold-rises-to-another-record-high-as-trump-drives-haven-demand