Gold prices hit a record high due to the impact of tension in global trade. The price of an ounce of gold exceeded $3,200, while the price of a gram of gold approached its peak at 4,000 Turkish lira.

Gold prices reached a record high due to increasing economic tension between the United States and China. During the last trading day of the week, the price of an ounce of gold surpassed $3,200. The U.S. increased tariffs on imported goods from China from 125% to 145%. This triggered concerns over the potential economic impacts of the escalating trade dispute between the two major economies.

Uncertainties regarding tariffs have increased demand for safe haven assets. INFLATION REMAINED IN THE SHADOW The tariff dispute between the two major economies overshadowed the U.S.’ 90-day delay decision and better-than-expected inflation data. Consumer prices in the U.S. came in below expectations with an annual inflation rate of 2.4% in March. Monthly inflation in the country also decreased for the first time since May 2020. Following the inflation data, expectations for an interest rate cut from the Federal Reserve (Fed) increased. Investors raised their expectations for an interest rate cut to 1% by the end of the year. Analysts pointed out that tariff rates have upward effects on inflation risks. HOW MUCH IS A GRAM OF GOLD? In parallel with the rise in the price of an ounce of gold, the price of a gram of gold reached 3,946 Turkish lira. The quarter gold coin, on the other hand, rose above 4,420 Turkish lira.