Gold surged after President Trump’s new customs tariffs. The price per ounce reached an all-time high of $3,168.

Following President Trump’s announcement of new tariffs, gold prices continued their record-breaking streak. After Trump’s statement, the price per ounce of gold reached a record level of $3,168. This rise in the price of the precious metal has exceeded 20% since the beginning of the year. After selling off from its peak, the price per ounce of gold stabilized around $3,140. The price of a gram of gold changed hands at $3,821. A quarter ounce of gold found buyers at $6,283. TRUMP TO IMPOSE ADDITIONAL TAX ON ALL COUNTRIES President Trump announced that they will start applying at least a 10% reciprocal customs duty on all countries, including Turkey. The US will impose a 34% customs duty on China, 20% on the EU, and 24% on Japan. Additionally, a 25% tax will be implemented on cars produced in foreign countries. Following Trump’s announcement, there was a tendency among investors to avoid risks, leading to an increased demand for safe haven assets. FOCUS ON EMPLOYMENT DATA Furthermore, gold was supported by expectations of interest rate cuts, central bank purchases, and strong demand for gold-backed investment funds. On the other hand, US employment and manufacturing data suggested a weak performance. The number of job openings in the country fell to 7.568 million in February, below market expectations. Manufacturing activity contracted in March after two consecutive months of growth. Investors are now focused on the non-farm employment figures to be released on Friday. The effects of employment data on the Fed’s monetary policy will be closely monitored.