Gold continued its rise due to the impact of trade wars. Trading above $3,000, gold saw a 1% increase per ounce. Global trade wars have fueled the rise in gold prices. Trade tariffs have increased economic slowdown and inflation expectations. This situation has boosted the safe-haven demand for the yellow metal. Gold started the day with an upward trend, gaining over 1% and trading at $3,009. President Donald Trump’s new tariffs, including the 104% massive taxes imposed on Chinese goods, have come into effect. Trump stated, “You hear about these customs duties. With these duties, we make almost $2 billion almost every day. Yes, $2 billion a day, and our business is doing very well, really well.” The White House announced that negotiations with around 70 countries regarding trade tariffs have reached the president. HOW MUCH IS A GRAM OF GOLD IN LIRA? Similarly, there has been an increase in gram gold prices parallel to ounce gold. Starting with a 1% rise, gram gold is trading around 3,673 lira. EYES ON FED MINUTES Additionally, the World Gold Council reported the entry of 226.5 metric tons worth $21.1 billion into gold-backed ETFs in the first quarter, which is the largest amount in the last three years. Investors are focused on the March meeting minutes of the Federal Reserve to get insights on the central bank’s interest rate policy. Clues regarding increased expectations of interest rate cuts will be sought from the Fed minutes to be released today.