A new standard of gold in light of Trump’s customs threats

Gold reached a new record of approximately 3 thousand dollars an ounce after Donald Trump threatened to impose huge fees on European imports.
The price of an ounce of gold was 2974 dollars on Thursday afternoon, exceeding the record level in late February.
In the latest chapters launched by the United States, US President France and the European Union threatened Thursday by imposing customs duties of 200% on some products if the European Union does not abandon the upcoming customs definitions of 50% on American products.

The high price of gold

Based on the foregoing, the price of gold has increased, while discussions on customs duties cause a decrease in risk demand and investors defending the precious metal, which is a safe haven.
The European Union, Canada and China announced measures in response to customs duties by 25% on steel and aluminum imports imposed by Trump and entered into implementation on Wednesday.
The price of gold also rises in light of the uncertainty that prevails in the geopolitical situation.