Gold prices approach record highs as tariff uncertainty boosts safe-haven demand

Gold prices are nearing record highs due to uncertainty from President Trump's tariff threats. Gold reached over $2,830 an ounce before closing at $2,822.44, supported by a weaker dollar and increased demand for safe-haven assets. The U.S. plans to impose a 10% tariff on Chinese imports, while Trump has delayed tariffs on Canada and Mexico. This has raised concerns about the potential impact on the U.S. economy and inflation. As trade war fears grow, U.S. gold and silver prices have surged above international levels. This has led to increased trading activity and higher lease rates for precious metals in London.