Gold soars beyond $2,900 as Trump threatens fresh tariffs

Gold prices continue their record rally on Feb. 10, 2025 and broke through the key $2,900 level for the first time, driven by safe-haven demand as US President Donald Trump's new tariff threats amplified trade war and inflation concerns. Spot gold surged 1.6% to $2,905.24 per ounce, as of 01:45 p.m. ET (1845 GMT), after hitting a record high of $2,911.30 earlier in the session. US gold futures settled 1.6 percent higher at $2,934.40. Trump announced plans on Feb. 9 to impose an additional 25 percent tariff on all steel and aluminum imports. He also said he would announce reciprocal tariffs this week, matching rates imposed by other countries and applying them immediately.

REUTERS / LSEG / G4S HANDOUT

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