Ahead of the scheduled date for reciprocal tariff imposition by the Trump administration, international gold prices hit a record high on Monday.
According to reports from AP and other news agencies, the spot gold price traded at $3,121.69 per ounce by 3:45 PM(EST), climbing 0.66% from the previous trading session. During the day’s trading, gold prices reached $3,160 per ounce, setting a new record.
The June gold futures on the New York Mercantile Exchange closed at $3,149.90 per ounce, shattering the previous closing price record.
CNBC reported that investors have consistently flocked to gold following the Trump administration’s announcement of 25% tariffs on steel, plastics, and automobiles. This trend is expected to continue as the administration prepares to announce the reciprocal tariffs on April 2.
U.S. Treasury prices, another safe-haven asset, also rose, pushing yields lower. The yield on the 10-year Treasury note dipped from 4.27% to 4.24%.
Global oil prices showed an upward trend as well. At 3:50 PM(EST), West Texas Intermediate (WTI) crude for May delivery jumped 2.11% to $71.47 per barrel, while Brent crude for May delivery surged 2.72% to $74.74 per barrel.
