Gold prices soared to an all-time high on Thursday as escalating trade tensions between the United States and the European Union rattled global markets. The surge came after U.S. President Donald Trump issued fresh threats to impose steep tariffs on European alcoholic beverages, including champagne and wine.
The renewed uncertainty in international trade prompted investors to seek the safety of gold, a traditional safe-haven asset. By the afternoon trading session, gold had reached a historic peak of $2,971 per ounce, surpassing its previous record set in late February.
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Market analysts attribute the sharp rise to growing fears over potential economic repercussions from heightened tariffs. “Gold tends to thrive in times of geopolitical and economic instability, and this latest development has only reinforced its appeal,” noted a commodities expert.
As tensions between major economies continue to unfold, investors remain on edge, closely monitoring trade negotiations and policy shifts that could further impact global markets. The precious metal’s record-breaking rally underscores its resilience and enduring status as a refuge in uncertain times.
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