Gold prices climbed on Thursday as rising U.S. auto tariffs heightened global trade tensions ahead of an April 2 deadline for reciprocal tariffs from major economies. Investors turned to the safe-haven metal amid uncertainty over the potential economic fallout.
The tariffs, aimed at foreign car imports, have triggered concerns of retaliatory measures from key trading partners, fueling volatility in global markets. Analysts predict that continued trade disputes could drive further demand for gold as a hedge against economic instability.
Market watchers are closely monitoring developments as the deadline approaches, with potential impacts on global trade flows and economic growth.
