Gold rates at all-time high: Why is yellow metal on bull run? Check key reasons here

Gold prices continued on their bull run, climbing 2.6% to an all-time high of $3,160.82 an ounce on Thursday, April 10, amid escalating trade war fears between the US and China.

Spot gold rates touched their lifetime high of $3,160.82 an ounce at 01:54 pm ET (11:24 pm IST) on Thursday after hitting their previous record high of $3,171.49 per ounce in the same session earlier, reported Reuters.

While US President Donald Trump temporarily provided relief regarding the tariff situation, announcing a 90-day pause on reciprocal tariffs on all countries except for China. Taking his tariff attack on China further, Trump increased tariffs on imports from China to 125% “effective immediately” citing “lack of respect that China has shown to the world’s markets” as the reason. As per the confirmation by the White House, the total tariffs imposed on Chinese goods now stand at 145%.

Prior to this, the US president had increased tariffs on China to 104%, after which China retaliated with increasing tariffs on US goods to 84%.

The intensifying global trade war fears are fueling gold rates, as the yellow metal is a safe haven.

However, domestic gold rates settled at ₹90,200 per 10 gm (24K, 99.9% purity) on Wednesday, April 9, declining from its lifetime high of ₹94,350 per 10 gm hit on April 3.

Why are spot gold prices at an all-time high?