The spot price of gold has reached a new all-time high due to concerns over impending import tariffs in the United States.
During trading, spot gold prices surged to $2800,43 per ounce.
Meanwhile, February gold futures on the Comex exchange rose 0.1% on Friday, reaching $2,824.90 per ounce. Over the past month, the precious metal has gained 6.5% in value.
US President Donald Trump confirmed the enaction of the previously announced 25% tariff on Canadian and Mexican imports. The demand for safe-haven assets, which include gold, has thus grown.
Additionally, investors are awaiting the release of US Personal Consumption Expenditures (PCE) index data on Friday, which is a key inflation indicator for the Federal Reserve. Analysts predict that in December, the index rose to 2.6% from 2.4% in November, while the core PCE index (excluding food and energy prices) remained steady at 2.8%.
Gold is a chemical element with the chemical symbol Au (from Latin aurum) and atomic number 79. In its pure form, it is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal, a group 11 element, and one of the noble metals. It is one of the least reactive chemical elements, being the second-lowest in the reactivity series. It is solid under standard conditions. Gold often occurs in free elemental (native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as in electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).
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