Gold first broke the major $ 3,000 obstacle on Friday on Friday as investors piled up a historic rally in Safe Heaven Asset to look for the cover from the economic uncertainty provided by US President Donald Trump’s tariff war.
Spot Gold rose 0.1% to $ 2,991 to $ 2,991 after killing an all -time high of $ 3,004.86.
The US Gold Futures rose 0.4% to $ 3,002.30.
Tai Wong, an independent metal merchant, said that gold growth is a $ 3000 milestone, “was run by investors seeking the final safe-heaven asset in view of Trump’s tumor on stock markets.”
Traditionally seen as a safe store of value during geo -political upheaval, the bullion has increased by about 14% so far this year, inspired by concerns on the impact of Trump’s tariffs and on the impact of a sales in the stock markets.
Trump’s conservationist policies have unresolved the global markets, with a week -long sale in US shares, causing the S&P500 to dip in the improvement sector, $ 4 trillion.
Ole Hansen, head of commodity strategy at Saxo Bank, said, “The real asset money manager, especially in the West, needed a strong stock market and economic recession – and now it is happening.”
Gold has also been supported by Central Bank Demand, leading buyer China builds its bullion reserves for the fourth straight month in February.
David Russell, CEO of Goldcore, said, “Central banks continue record level gold acquisitions, seeking to move away from a rapidly unstable US dollar.”
The American Federal Reserve has also helped in the expectations of monetary ease of gold. The Fed is expected to keep the rates unchanged next week, although traders are betting on cuts to resume in June.
However, gold can see a significant improvement, “when a resolution of business issues appears and the asset market is cured.” Wong said.
Among other metals, silver added 0.3% to $ 33.9 an ounce, platinum increased 0.3% to $ 997.00 and 2.1% $ 978.18 in the palladium.
Published – March 14, 2025 09:11 pm IST
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