Following the implementation of President Donald Trump’s decision to impose a 25% customs duty on automobile imports, concerns about a trade war in international markets have driven up gold prices.

The price of gold per ounce reached an all-time high, exceeding $3,007 with a 0.7% increase this morning. Meanwhile, the price of a gram of gold started the day at 3,731 Turkish liras. Reaching a peak of 3,761 liras, the gram of gold was hovering around 3,756 liras by 08:30. In the Grand Bazaar, the price of a gram of gold surpassed 3,809 liras.

WHY DID GOLD RISE?

Gold prices started to rise after President Donald Trump’s decision to impose a 25% customs duty on automobile imports. Concerns about the potential spread of trade wars are said to be directing markets towards safe havens.

Real-time gold and foreign exchange rates