Gold prices rose as the war between Russia and Ukraine escalated and US President Donald Trump renewed his threat to double tariffs on steel and aluminum imports, prompting investors to seek a safe haven in bullion.
Spot gold rose 0.7 percent to $3,311.33 per ounce, while US gold futures rose 0.6 percent to $3,335.40.
US President Trump announced his intention to raise tariffs on steel and aluminum imports from 25 percent to 50 percent, prompting the European Commission to warn that Europe was prepared to retaliate.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
