Gold prices surged to a new peak, propelled by safe-haven demand fueled by ongoing uncertainties surrounding US trade policy and a weaker dollar. Market sentiment appears to be reacting to both protectionist signals and expectations regarding future monetary policy, influencing investor behavior.
- Gold climbed toward $2,630 per ounce, setting a new record.
- Uncertainty around US trade policy supported safe-haven demand.
- A broadly weaker dollar contributed to the price increase.
- President Trump called for an investigation into potential tariffs on all critical mineral imports.
- Major banks remain positive on gold’s outlook.
- Continued inflows into gold-backed ETFs have been observed.
- Sustained central bank buying is taking place.
- Investors are awaiting US retail sales data and a speech from Fed Chair Powell.
The current environment indicates that gold’s attractiveness as a safe haven is strengthening amidst global economic anxieties. Factors such as potential trade restrictions and currency devaluation are contributing to its increasing value. Furthermore, sustained investment in gold-backed instruments and the actions of central banks suggest confidence in gold as a store of value, solidifying its position in the market. Attention is now directed to economic indicators and policy statements that could further shape the trajectory of its price.