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Gold continues to climb, tariffs increase demand

ByVictoria

Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.

Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).

“We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.

Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.

Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.

Source – Reuters

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    Stocks recoiled on Wednesday, while safe-haven gold held near record highs as a nervous world awaited details of U.S. President Donald Trump’s tariff plans and investors fretted about the risks of an intensifying global trade war.

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    “This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan,” Vizsla CEO Michael Konnert said in a statement.

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