New York: Gold prices reached a record peak above the crucial $3,000 mark on Tuesday for the second time within a week, as investors sought cover from economic concerns fueled by US President Donald Trump’s tariff policies. Spot gold was up 0.2% at $3,008.08 an ounce after hitting a record high of $3,012.05 per ounce earlier in the session.
According to Qatar News Agency, gold rose above the $3,000/oz milestone for the first time on Friday. US gold futures rose 0.4% to $3,017.60. Historically considered a hedge against geopolitical instability, gold has risen more than 14% so far this year. Since Trump took office in January, gold has hit a record high 14 times as trade tensions boosted safe-haven demand.
Spot silver gained 0.2% to $33.89 an ounce, platinum added 0.5% to $1,004.65 and palladium rose 0.5% to $969.6.