Gold Prices Keep Hitting Record Highs Amid US–China Tariff War

The persistent rise in gold prices indicates growing demand for gold as a safe-haven asset, largely driven by economic uncertainty and geopolitical risks.

Bars of gold are piled up during a press conference at the German Federal Bank in Frankfurt am Main, western Germany, on Jan.16, 2013. Frank Rumpenhorst/DPA/AFP via Getty Images

News Analysis

The price of gold soared to a new high after China imposed retaliatory tariffs on exports from the United States. The yellow metal is in high demand as central banks and investors increase their gold reserves in anticipation of a worsening U.S.–China trade war.