Gold prices continued to climb on Thursday, reaching $3,160.50 per ounce, a 0.5% increase, following the announcement by US President Donald Trump of new tariffs. This development prompted investors to turn to safe-haven assets such as gold.

According to Bloomberg, gold prices earlier in the session hit a record high of $3,148.88 per ounce, reflecting the growing demand for the precious metal amid escalating trade tensions and concerns over the impact of the tariffs on the global economy.