Gold prices reach a record high as investors turn to the yellow metal for safety as a result of U.S. President Trump’s escalating trade war. Futures are up more than 8% on the month and up 1% in early trading to $3,090.30 per troy ounce. In addition to strong central bank demand, safe-haven inflows brought on by geopolitical and economic uncertainty support prices. “We continue to hold a bullish outlook towards gold prices, with gold continuing to benefit from U.S. policy uncertainty, trade tensions, military conflicts around the world, inflation worries, and macro uncertainty,” BMI, the research arm of Fitch, said. Now, traders are waiting for the Federal Reserve’s favored inflation indicator, the U.S. PCE data, which is coming later Friday.
As the tariff war increases the appeal of safe havens, gold reaches a new high — Market Talk
- Date: March 28, 2025
- Time: 11:24 AM
