Gold prices jumped in Asian trading on Wednesday as investors sought safety following a sharp escalation in U.S.-China trade tensions. A weaker dollar further supported the precious metal.
Spot Gold: rose 1.6% to $3,031.02 per ounce
Gold Futures (June delivery): climbed 1.9% to $3,046.61 per ounce
Earlier this week, gold had briefly dipped below the $3,000 mark—its lowest since March 13—before rebounding.
Gold’s gains were driven by renewed safe-haven demand after the U.S. implemented steep trade tariffs:
A 104% cumulative tariff was imposed on Chinese imports
Additional tariffs included:
20% on the European Union
24% on Japan
25% on South Korea
32% on Taiwan
46% on Vietnam
The new measures were announced by President Donald Trump on Tuesday and took effect Wednesday.
China’s Ministry of Commerce vowed to “fight to the end” if Washington continues its tariff actions
The escalating standoff fueled risk aversion, pushing investors toward traditionally safer assets like gold
The U.S. dollar fell to a six-month low, enhancing gold’s appeal to non-dollar buyers
A weaker greenback typically makes commodities like gold cheaper and more attractive globally
Investors tracking commodity movements can access real-time gold pricing and performance metrics using the
\ud83d\udcc8 Commodities API from Financial Modeling Prep. It provides current and historical data for spot gold, gold futures, and other key commodities.
Market attention is now on China’s potential countermeasures
Traders are also watching for any hints from the Federal Reserve amid growing recession risks tied to prolonged trade disruption
