Gold prices notch record close for 2nd straight session

Gold bars

Gold prices ended in the green today, Feb. 4, lifted by increased demand for safe havens after China responded to US President Donald Trump levies by imposing retaliatory tariffs.

April gold futures inched up by 0.65%, or $18.70, to $2,875.80 per ounce, closing at a record level for the second trading session in a row.

However, the US dollar index, which gauges the greenback’s strength against a basket of six major currencies, dropped 0.95% to 107.98 points at 10:44 pm Makkah time.

In response to the US tariffs, China announced counter tariffs of additional duties of 10% on crude oil and agricultural equipment and 15% on coal and liquified natural gas, effective as of Feb. 10.