Gold has surpassed the $3,300 mark, driven by a weak dollar and the looming US-China trade war, which are attracting more investors and extending its year-to-date gain to over 26%.
The price surge aligns with the growing trade war, as President Donald Trump has ordered an investigation into potential tariffs on rare earth imports, further intensifying the dispute with China.
In response to significant tariffs imposed by the U.S., Beijing has enacted restrictive measures on the export of rare earth metals and rare earth magnets to the United States as part of its retaliation.