GOLD SHINES ABOVE $3380 AS US-CHINA TRADE WAR REIGNITES
Published on Jun 02, 2025 13:42
Gold prices soared above $3380 per ounce on Monday, jumping more than 2%, as investors rushed to safe-haven assets amid renewed geopolitical and trade concerns. Meanwhile, Russia-Ukraine tensions flared again after Ukraine`s drone strike destroyed over 40 Russian warplanes, prompting a massive retaliatory missile barrage by Moscow. The spike in uncertainty comes just ahead of scheduled peace talks in Istanbul. In India, gold crossed ₹97500 per 10 grams, gaining nearly ₹1500. The rally followed President Trump`s announcement to double tariffs on steel and aluminum imports to 50% starting June 4, intensifying trade tensions with China, which accused the US of breaking a recent tariff truce.
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