Gold Prices Surge to Record Highs Amid Trade War Fears

Gold prices have surged to record highs, largely driven by investor concerns over US President Donald Trump's recent tariffs on steel and aluminum, which have sparked fears of a trade war. The price of 24-carat gold reached $2,942 an ounce, while 22-carat gold surpassed ₹86,000 per 10 grams in India. Analysts attribute the rising demand for gold to its status as a safe-haven asset amid geopolitical uncertainties and inflation fears. Predictions suggest gold could reach $3,000 an ounce in the near future, with significant inflows into bullion-backed exchange-traded funds reflecting heightened investment interest. The market is closely watching Federal Reserve Chairman Jerome Powell's upcoming testimonies for insights on monetary policy that could further influence gold prices. Overall, the combination of heightened trade tensions and increasing demand for safe investments continues to propel gold prices upward.