Trump\'s trade war pushes gold higher

US President Donald Trump's rhetoric and escalating trade tensions between the United States and China have fuelled panic among investors, driving them to seek refuge in gold. As a result, gold prices reached an all-time high on Wednesday. In Pakistan, the price of gold surged significantly, with per tola rates increasing by Rs5,300 to hit a record Rs299,600, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The significant increase in gold prices is primarily attributed to fears of a potential new trade war. This escalation began when Beijing imposed tariffs on US imports in retaliation to new American duties on Chinese goods. Additionally, Trump's statement about the US 'taking over' the Gaza Strip has contributed to these concerns.