Gold Prices Reach Two-Week High

Gold prices soared to a two-week high on Tuesday, fueled by concerns over potential US tariffs on pharmaceutical imports. Investors are also keenly awaiting the Federal Reserve's upcoming policy meeting for hints on future interest rate cuts.

Trump's Tariff Announcements Stir Markets

US President Donald Trump has signaled his plan to introduce new tariffs on pharmaceutical products within the next two weeks, following his recent declaration of 100% tariffs on foreign-produced films. These moves have added to market uncertainties, driving investors towards safe-haven assets like gold.

Precious Metals Market Reacts

At 12:24 pm ET, gold prices jumped by 2.03%, reaching $3,400.05 per ounce. Similarly, silver saw a 1.95% increase, trading at 33.12 per ounce. Platinum and palladium also experienced significant gains, with platinum up by 2.64% at $989.48 per ounce and palladium rising 2.72% to $957.74 per ounce.