Gold prices steady as investors flock to safe havens

Gold bars

Gold prices have been firm on Wednesday trading after declining on April 1 on profit-taking, as investors continued to seek safe-haven assets amid escalating trade risks.

June gold futures remained steady at $3,146.1 per ounce as of 09:46 am KSA time.

Meanwhile, spot gold rose by 0.23% to $3,117.77 per ounce after hitting a new record high of $3,148.88 per ounce on Tuesday, April 1.

Silver futures for May delivery rose 0.38% to $34.44 per ounce, while spot platinum prices fell by 0.63% to $982.88 per ounce.

US President Donald Trump is set to announce today the imposition of reciprocal tariffs matching those charged by other countries on US exports, raising global trade war risks.

This has driven increased investor demand for safe-haven assets, though gold faced pressure from profit-taking after recently reaching record highs.