Gold prices continued to rise alongside ongoing safe-haven demand. The price of an ounce of gold started the day around $2,930. Meanwhile, the price of a gram of gold hit a record high at 3,431 Turkish Liras.

Concerns over US customs tariffs and global uncertainties are affecting gold prices. The day began with the price of a gold ounce around $2,930. The price of an ounce of gold remained just below the record level of $2,941. On the other hand, a gram of gold found buyers at 3,431 Turkish Liras. Quarter gold, on the other hand, rose to 5,618 Turkish Liras.

NEW TAX SIGNAL FROM THE US
US President Donald Trump escalated trade tensions by signaling that tariffs of 25% could be applied to cars, pharmaceuticals, and chips. Trump indicated that the automobile tariffs could come into effect by April 2nd.

UKRAINE-RUSSIA WAR
The possibility raised by the White House during diplomatic discussions to lift sanctions against Russia has increased uncertainty, worrying Europe and Kiev. The Trump administration stated that they are willing to engage in more talks with Russia to end the war in Ukraine.

EYES ON FED MINUTES
Markets will be watching the Federal Reserve meeting minutes to be released at 10:00 PM GMT. San Francisco Fed President Mary Daly mentioned that progress in inflation is uneven and emphasized the need to keep interest rates unchanged. Meanwhile, Singapore’s gold shipments to the US reached the highest level in the last three years in January.