Gold ascends to a new standard level

Gold prices rose to a record level today, Thursday, with investors’ appetite for the precious metal as a safe haven, amid fears of US President Donald Trump’s plans regarding customs duties, which may exacerbate inflation and ignite a global trade war.

Gold rose in instant transactions 0.5 percent to $ 2945.83 an ounce by 06:21 GMT. Gold recorded a high record at $ 2947.11 an ounce earlier in the session.

Gold has risen 12 percent since the beginning of the year, and a new record for the tenth time was due to concerns about American customs duties.

US gold futures increased 0.9 percent to $ 2963.80.

“The foggy expectations of global trade and inflation are proven that it is favorable to gold and pays it towards the level of $ 3,000,” said Tim Water, Sigar Market Zolors in K.M.

For other precious metals, silver in instant transactions increased 0.5 percent to $ 32.88 an ounce. Platinum rose 0.4 percent to $ 976 an ounce. Palladium rose 0.6 percent to $ 973.87 an ounce.