Gold surges to new record high as US-China trade conflict intensifies

Record ID: 1969653

  • Title: Gold surges to new record high as US-China trade conflict intensifies
  • Date: 16th April 2025
  • Summary: Gold surges to new record high as US-China trade conflict intensifies *** FILE FOOTAGE *** SHOTLIST KRASNOYARSK, RUSSIA (MAY 27, 2024) (AAVN - ACCESS ALL) (FILE FOOTAGE) 1. WORKERS SORTING GOLD BULLIONS (TWO SHOTS) 2. VARIOUS OF WORKER WRITING INFORMATION ON GOLD BULLION BY MACHINE 3. VARIOUS OF GOLD BULLIONS ISTANBUL, TÜRKİYE (JANUARY 20, 2025) (ANADOLU – ACCESS ALL) (FILE FOOTAGE) 4. VARIOUS OF GOLD COINS AND BULLIONS IN SHOWCASE OF JEWELRY STORE 5 . VARIOUS OF GOLD JEWELRY IN JEWELRY STORE WINDOW 6. VARIOUS OF SILVER COINS AND BULLIONS SCRIPT The price of gold hit a new record on Wednesday, with an ounce reaching $3,318 as the US initiates new moves in the trade conflict with China. After hitting an all-time high, the price of gold currently stands at around $3,312.60 as of 0820GMT. The ounce of gold rose more than 2.6% on Wednesday to set a new record after investors' worries increased over further escalation of the trade conflict between the world's two biggest economies. The surge in gold price intensified after US President Donald Trump announced his "reciprocal" tariffs on more than 180 countries on April 2. China was the first country to react to the US tariff increases and responded at the same rate. As a result of the tariff showdown between the two countries, the US raised its tariffs on China to 145% and China raised its tariffs on the US to 125%. While the Washington administration postponed the reciprocal tariffs imposed on other countries for 90 days, tariffs against China came into force. Meanwhile, the US government banned Nvidia's H20 chips' exports to China. In the latest move, the White House announced late Tuesday that China now faces up to 245% tariffs due to its retaliatory actions.
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  • Reuters ID: OWANACAAVIDEO2025041637650513
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  • Copyright Holder: Anadolu Agency
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