Gold prices started the new week on the rise. The price of an ounce of gold traded at $2,863, while the gram side of gold traded at 3,350 Turkish Lira. Gold was influenced by concerns over US President Donald Trump’s customs duty policies. Starting the day on an upward trend, gold traded at $2,863 as of 8:30 AM. At the same time, a gram of gold changed hands for 3,355 Turkish Lira. A quarter of gold was priced at 5,484 Turkish Lira. Trump announced that customs duties on Mexico and Canada will take effect on March 4th. The pressure on markets increased with a 10% additional tax to be applied on China and broader tariff applications. Fears about the inflationary effects of trade wars and policies increased demand for safe havens like gold. Gold had set a record on February 24th at $2,956 per ounce.