Gold’s price experienced a significant surge, reaching a new all-time high above $3,040 per ounce. This rally is driven by increased demand for safe-haven assets in response to escalating geopolitical tensions and uncertainties surrounding tariffs. The market is also anticipating the upcoming FOMC decision and Powell’s speech, which could provide insights into future monetary policy adjustments.
- Gold reached a fresh record high of over $3,040 per ounce.
- Safe-haven demand is fueling the price increase.
- Heightened geopolitical tensions, particularly in the Middle East and Ukraine, contribute to the demand.
- Tariff uncertainty, especially concerning US levies on steel and aluminum, plays a role.
- The FOMC decision and Powell’s speech are upcoming events to watch.
- Gold has gained over 16% since the start of the year.
The prevailing environment of global instability and trade friction has significantly boosted the appeal of gold as a store of value. Investors are seeking refuge in this traditional safe-haven asset as concerns about geopolitical events and economic policy create volatility in other markets. The continued gains highlight the impact of these factors on investor sentiment and asset allocation.