International Gold Prices Hit All-Time High Amid Tariff War Fears, Nearing $3,000 per Ounce

# Gold Prices Near Record High Amid Escalating Tariff War New York - The escalating tariff war initiated by the Trump administration is pushing international gold prices to new heights. On the 13th, local time, gold futures surged, with prices nearing the historical milestone of $3,000 per ounce. At the New York Mercantile Exchange, April-delivery gold futures settled at $2,991.3 per ounce, up 1.5% from the previous session. Spot gold prices also marked a record high, trading at $2,979.76 per ounce at around 2 p.m. Eastern Time, according to Reuters, reflecting a 1.6% increase from the previous day. Spot gold prices have been on a strong upward trajectory, rising 27% last year and continuing the trend with approximately a 14% increase this year. The Trump administration’s tariff policies have heightened global economic uncertainties, driving demand for safe-haven assets like gold. Additionally, weaker-than-expected U.S. producer prices following below-predicted consumer prices in February have bolstered market expectations for a renewed rate cut by the Federal Reserve. This has further contributed to the bullish sentiment in gold prices. Suki Cooper, an analyst at Standard Chartered Bank, noted, "Strong demand via gold ETFs, continued central bank purchases, geopolitical tensions, and changes in tariff policies are sustaining uncertainty and stimulating demand for gold." Alex Evkarian, COO of precious metals trading firm Alliance Gold, commented, "The bullish trend in gold prices is expected to persist." He forecasts that gold prices will trade within the $3,000 to $3,200 per ounce range this year. pan@yna.co.kr