Gold Price on the Last Run Toward $3,000 As Tariff Threats Loom
Gold surged almost $50 higher today, climbing above $2,900, with threats about tariffs and counter-tariffs helping keep the gold demand high.
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The week kicks off with a continuation of last week’s key theme—trade tensions. Former U.S. President Donald Trump has reiterated his plan to impose 25% tariffs on steel and aluminum imports, alongside additional duties on other trading partners later this week. While these metal tariffs appear inevitable, markets seem less reactive this time around, particularly regarding the possibility of reciprocal measures. Investors had already digested this stance last week, and the current response remains noticeably more muted, reflecting a sense of familiarity with Trump’s trade tactics.
Gold Chart Daily – The Surges to New Record Highs Doesn’t Stop
Amid the ongoing uncertainty, gold has continued its strong rally, breaking through the $2,900 level during today’s session. With a $45 surge, the metal hit an all-time high of $2,912, extending its winning streak to a sixth consecutive week. The combination of trade concerns, inflationary pressures, and broader macroeconomic uncertainty has fueled demand for GOLD as a safe-haven asset. As 2025 unfolds, gold’s trajectory is expected to remain closely tied to interest rate policy, particularly in the U.S., where rate cuts could weaken the dollar and influence both nominal and real yields.
Central Banks Continue Aggressive Gold Accumulation
Gold’s appeal is further bolstered by heavy central bank purchases, which surged 54% year-over-year in Q4 2024, even as overall production remained flat. Throughout 2024, central banks collectively added 650 tonnes to their reserves, and this trend is set to continue, with projections indicating an increase to 700 tonnes in 2025. Geopolitical risks, the uncertainty surrounding Trump’s trade policies, and rising global debt levels all contribute to this sustained demand, reinforcing gold’s position as a hedge against financial instability.
Gold Live Chart
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