Gold and Silver Reaches Historical Peak: Impact of Trade Tensions

Gold and Silver at Record Levels

Recently, the renewed rise in trade tensions between the USA and China has increased demand for precious metals, causing their prices to reach record levels. Gold has reached a historic peak of $4,068.26, while silver has also been traded at an all-time high of $51.60.

Safe Haven Seeking and Interest Rate Cut Expectations

The increase in safe haven seeking in global markets and expectations that the Federal Reserve may cut interest rates are supporting the rise in gold prices. This morning, the price of gold per ounce increased by %1.24, reaching $4,068.26, and is currently trading around $4,067.83. The gram of gold that will be traded in the Grand Bazaar has risen to 5,467.52 TL before the opening, while maintaining a stable level around 5,461.50 TL.

Trade Tensions and Geopolitical Risks

President Donald Trump announced that he would impose a 100% customs duty on Chinese products. China, in retaliation, decided to impose restrictions on the export of rare earth materials and equipment. This situation is increasing risk perception in the markets. Analysts point out that after overcoming the $4,058 resistance, the $4,118 level could be the new target.

Rise in Silver and Other Precious Metals

The price of silver has reached $51.60 with a %3 increase, attracting the attention of investors. Goldman Sachs indicated that silver could attract investors and continue to gain value in the medium term, while also emphasizing that it may show more volatility in the short term. Gold, which has increased in value by %54 since the beginning of the year, is supported by geopolitical risks and central banks' buying tendencies.

Movement in Other Precious Metals

Apart from gold and silver, the prices of platinum have increased by %2.6 to $1,628.80, and palladium has risen by %2.6 to $1,442.06. This price movement is increasing investors' orientation towards precious metals.