Following the implementation of President Donald Trump’s decision to impose a 25% customs tax on car imports, concerns of a trade war in the international markets have pushed up gold prices.

The price of gold per ounce reached an all-time high this morning, with a 0.7% increase to over $3,007. Gram gold started the day at 3,731 liras, reaching a peak of 3,761 liras, and was trading around 3,756 liras by 08:30. In the Grand Bazaar, gram gold surpassed 3,809 liras.

WHY DID GOLD RISE?

Gold prices started to rise following President Donald Trump’s decision to impose a 25% customs tax on car imports. Concerns about the spread of trade wars are said to have directed the markets towards safe havens.

Real-time gold and exchange rates