Gold prices hit a record high due to the tension in global trade. The price of an ounce of gold surpassed $3,200, while the price of a gram of gold approached its peak at $4,000.

The escalating economic tension between the US and China led to a record-breaking surge in gold prices. On the last trading day of the week, the price of an ounce of gold surpassed $3,200. The US increased tariffs on goods imported from China from 125% to 145%, triggering concerns about the potential economic impact of the intensifying trade dispute between the two major economies.

Uncertainties surrounding tariffs boosted demand for safe-haven assets. INFLATION IN THE SHADOW The tariff dispute between the two major economies overshadowed the US’s decision to defer tariffs for 90 days and better-than-expected inflation data. In the United States, consumer prices came in at an annual inflation rate of 2.4% in March, below expectations. Monthly inflation in the country declined for the first time since May 2020. Following the inflation data, expectations for an interest rate cut from the Federal Reserve (Fed) increased. Investors raised their interest rate cut estimates to 1% by the end of the year. Analysts pointed out that tariff tariffs could have an upward effect on inflation risks. HOW MUCH IS A GRAM OF GOLD? Showing a performance parallel to the rise in the price of an ounce of gold, the price of a gram of gold reached $3,946. The price of a quarter of gold surpassed $4,420.