Gold maintains its winning streak above $3025 (~Rs 88500) as Trump’s tariffs are projected to exacerbate inflation and economic turmoil.
Gold clears the $3000 milestone target of 2025; what next?
Gold cleared the $3000 (~Rs 88000) milestone target driven by risk aversion. Gold closed the year 2024 at $2640 (~Rs 77800), and the “Gold and Silver Outlook—2025” yearly report recommended buying gold on 1st Jan 2025 for the target of $3000 in 2025.
Gold at new record highs
Gold reached fresh domestic market highs of $2955 (~Rs 86800), driven by rising global trade tensions and safe-haven demand. President Donald Trump warned of further taxes on EU goods on Wednesday, following retaliation by the EU and Canada against existing US trade restrictions.
Gold faces tug-of-war at highs
Gold markets are in a tug-of-war at highs, with bears focusing on a potential ceasefire deal in Ukraine and bulls anticipating key U.S. inflation data to gauge the Federal Reserve’s interest rate path amid trade tensions and economic slowdown fears.
Gold consolidates in the $50 range before a decisive move
Gold prices are consolidating between $2885 and $2935, spurred by a weaker US dollar and safe-haven flows as fears about the US economy grow amid growing trade tensions.
Gold building a base before moving higher above $3000
The uncertainty surrounding US President Donald Trump’s trade policy keeps investors on edge, and it continues to act as a tailwind for the gold market as the new week begins.
Gold consolidates near highs amid trade war fear
Investors are concerned that Trump’s tariffs would hinder US economic growth and push the Federal Reserve to slash interest rates multiple times before the end of the year.
Tariff War is back
U.S. President Donald Trump imposed new 25% tariffs on imports from Mexico and Canada on Tuesday, as well as a doubling of duties on Chinese goods to 20%, igniting trade wars that could stifle economic growth and raise prices for Americans still reeling from years of high inflation.
Investors flock to safety amid tariff uncertainty
Markets remain risk-averse as a global tariff war appears certain. US President Donald Trump reaffirmed 25% tariffs on Canada and Mexico, which will go into force on Tuesday, and has already signed an order to hike China tariffs to 20%.
Gold supported on Ukraine deal uncertainty
Friday’s dispute between Ukraine President Volodymyr Zelenskiy and US President Donald Trump and Europe’s growing disagreements with the US over its Russia policy will support safe-haven gold, as investors keep an eye on European efforts to develop a Ukrainian peace plan.