AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

4/10/2025: Gold rockets to new record

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold rocketed another 3.2% higher to close at a fresh all-time high above $3,155 as equities and the dollar tumbled on President Trump’s escalating trade war with China. Silver rose 1.3% to finish at $30.67 an ounce.

With some $650 billion in goods at stake, the White House jacked up new tariffs on Chinese imports from 104% to 125% yesterday, fueling global concerns about a damaging trade war between the world’s two biggest economies.

The aggressive move came after China responded to Trump’s 104% tariffs by imposing 78% duties on US goods. Combined with the 20% “reciprocal” tariff already in place, the duties on goods from China now total 145%. While tariffs are paid into Treasury coffers by importers, they are typically passed along to consumers.

After rallying yesterday on news that Trump will suspend new tariffs on most other nations for 90 days, Wall Street’s selloff resumed today on the ongoing uncertainty caused by US trade policies. The Dow fell 2.5% while the S&P 500 lost 3.2% and the Nasdaq 4%.

Against this volatile backdrop for consumer prices, the CPI fell 0.1% last month for its first monthly decline since May 2020, pulling the 12-month inflation rate down to 2.4% from 2.8% in February. But these prices do not reflect the recent barrage of tariffs.

The dollar plunged 1% against major rivals, pressured by uncertainty about US policy and rising demand for safe-haven currencies like the Swiss franc and yen. A falling dollar boosts gold and other commodities by making them cheaper overseas.

Platinum picked up 1.5% while palladium was flat.

At the NE York spot close: gold gained d$98.70 to $3,155.20; silver rose 39 cents to $30.67; platinum added $13.80, to $922.40; and palladium was virtually unchanged at $925.10 an ounce.