Gold hits record high after Trump tariffs

Gold hit a record high on Thursday as investors flocked to safe-haven assets after US President Donald Trump announced higher-than-expected tariffs against major trading partners, escalating the global trade war.

Spot gold rose 0.4% to $3,145.93 per ounce by 00:18 GMT, after hitting an all-time high of $3,167.57 earlier in the session.

U.S. gold futures rose 0.1% to $3,170.70.

Among other precious metals, spot silver fell 1.2% to $33.61 per ounce, platinum fell 0.8% to $975.93, and palladium fell 0.6% to $964.56.