Gold prices started the new week with an increase. The price of an ounce of gold traded at $2,863. Meanwhile, the gram of gold was traded at 3,350 Turkish Lira. Concerns over U.S. President Donald Trump’s tariff policies impacted the price of gold. Gold began the day on an upward trend, trading at $2,863 at 8:30 am. At the same time, the price of a gram of gold changed hands at 3,355 Turkish Lira. A quarter of gold was priced at 5,484 Turkish Lira. Trump announced that tariffs on Mexico and Canada would take effect on March 4. The imposition of a 10% additional tax on China and broader tariff applications increased pressure on the markets. Fears of the inflationary effects of trade wars and policies have boosted demand for safe-haven assets like gold. On February 24, the price of an ounce of gold hit a record high of $2,956.