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Gold hits record highs amid US-China trade war
2025-04-11 14:57:50 / EKONOMI&SOCIALE
The price of gold continues its march towards historic highs. On April 11, 2025, an ounce of gold was trading at $3,218.35, just hours after hitting a record high of $3,219.40 on the New York Stock Exchange.
The latest increase comes after strong developments on the trade front. US President Donald Trump temporarily suspended some tariffs but at the same time increased tariffs on Chinese goods to 145%, further straining the climate between the world's two largest economic powers. China, in turn, responded by imposing tariffs of 84% on some US products.
These moves have caused volatility in financial markets. After a strong increase in the indices yesterday, the Dow Jones and S&P 500 fell today after the opening, as a result of fears of a further escalation of the trade war.
Against this backdrop, gold is confirming its classic role as the financial "safest asset", while the US dollar is weakening and US inflation has fallen to 2.4%, fueling expectations of interest rate cuts by the Federal Reserve.
Experts see the price of gold supported by several factors: the weakening dollar, massive purchases by central banks, especially from China and India, and the uncertain global and geopolitical climate, which is making investors increasingly orient themselves towards this precious metal.
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