The price of gold sets a record with the increasing demand for safe haven

The price of gold set a new record above $ 3160 for a gram after President Donald Trump unveiled his ‘mutual’ customs fees, imposing a 10% lower fee on imports, which increased the fear of leading to a global economic slowdown. Gold was one of the few commodities excluded from these mutual drawings, according to the fact habitor paper. The mineral mode is reinforced as a safe haven when it rose by up to 1.1% in early Asian transactions, shortly after the president’s speech in the flower park. This was followed by an increase of 0.7% Wednesday. Trump said he would apply a 10% lower customs fees to the United States, with higher rates on dozens of countries with the largest levels of trade deficit. A 34% fee was imposed on China, while the percentage was 20% on the European Union and 46% on Vietnam. Investors are going to gold as fear increases over the health of the global economy. The precious metal increased by 20% this year to a sharp increase in 2024 led by major purchases of central banks and strong demand in Asia. The Instant Gold set a new record of $ 3,167.84 an ounce after reaching $ 3149 on Tuesday. The prices of silver and Albadium dropped, while platinum rose slightly.