Gold Reaches Two-Week High

Gold prices experienced a significant increase, reaching a two-week peak on Tuesday. This surge was primarily driven by concerns over potential US tariffs on pharmaceutical imports. Investors are also keenly awaiting the Federal Reserve's upcoming policy meeting for hints on possible interest rate cuts.

Trump's Tariff Plans

US President Donald Trump has signaled his intention to impose new tariffs on pharmaceutical products within the next two weeks. Additionally, Trump announced a 100% tariff on foreign-produced films, further stirring market anxieties.

Market Reactions

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