Due to concerns about Trump’s tariffs and a worldwide trade war, gold’s price remains optimistic. The Dollar Index is under pressure from declining US bond yields, providing more support for the precious metal.

This week, gold is once more climbing the ladder to fresh all-time highs. With April futures hitting $2956 (~Rs 86140), investors speculated about growing worries about central bank purchases and changes in U.S. policy.

As concerns about a possible global trade war fueled demand for safe-haven assets, uncertainty about U.S. President Donald Trump’s tariff proposals continued to drive gold’s strength today.

As worries about a global trade war grew, U.S. President Donald Trump’s intentions to put reciprocal tariffs on all nations that tax U.S. imports kept gold prices rising for a seventh consecutive week.

Before the US inflation report was released, gold prices dropped $80, but prices swiftly recovered. Gold prices have sustained above $2935 resistance today, so it will likely maintain its upward momentum of $3000 (~Rs 87500) in a few days.

As investors awaited a significant U.S. inflation report, Federal Reserve Chair Jerome Powell’s hawkish remark solidified thoughts of slower rate cuts this year, causing gold prices to decline yesterday after hitting an all-time high the previous session.

Gold prices surged to a record high of $2968 (~Rs 86300) as investors flocked to the safe-haven asset after he imposed new 25% tariffs on steel and aluminium imports, inflaming inflation and a potential trade war.

With China announcing tariffs on some US goods in response to US President Donald Trump’s 10% tax on Chinese imports, gold continues its winning streak for a seventh consecutive week, igniting a new trade war between the world’s two largest economies and supporting the safe-haven gold price.

Gold prices cleared the important level of $2900 (Rs 84600), staying close to record highs as investors awaited the U.S. jobs report for hints about the future path of interest rates as tensions of the US-China-U.S. trade war increased demand for safe haven assets.

Uncertainty surrounding the US-China Trade War has caused gold to hit another record high of $2885 (~Rs 84200).

U.S. President Donald Trump agreed to a 30-day halt in tariffs on Mexico and Canada on Monday in exchange for border and crime enforcement concessions with the two nations. At the same time, levies on Chinese goods are set to start today, keeping gold bids at record highs.

Gold prices hit a record high above $2850 (around Rs 82000) after the dollar declined following a report that revealed the U.S. economy grew more slowly than anticipated in the fourth quarter.