Gold Blasts Past $3,100 for the First Time Ever Amid Trade War Jitters

https://sputnikglobe.com/20250331/gold-blasts-past-3100-for-the-first-time-ever-amid-trade-war-jitters—1121716739.html

Gold Blasts Past $3,100 for the First Time Ever Amid Trade War Jitters

Gold Blasts Past $3,100 for the First Time Ever Amid Trade War Jitters

Sputnik International

Concerns that Donald Trump’s looming April 2 reciprocal tariffs could trigger further economic turmoil sent investors rushing to the ultimate safe-haven asset. Spot gold hit a record high of $3,107.26 an ounce.

2025-03-31T07:17+0000

2025-03-31T07:17+0000

2025-03-31T07:17+0000

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Concerns that Donald Trump’s looming April 2 reciprocal tariffs could trigger further economic turmoil sent investors rushing to the ultimate safe-haven asset. Spot gold, which tracks real-time trades in gold bullion, hit a record high of $3,111.3 an ounce after being up 18% this year alone. Goldman Sachs analysts predict another high of $3,300 by year’s end.Last year, gold prices hit record highs, with US gold futures slightly above $2,640 an ounce on the Comex division of the New York Mercantile Exchange, after peaking at $2,644.80. At the time, analysts speculated that the major target of $3,000 an ounce was in view.

https://sputnikglobe.com/20240920/gold-at-record-high-for-3rd-time-in-us-rate-cut-week-stalks-major-3000-target-1120224675.html

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Gold is also viewed as protection against political troubles that could weigh on the world economy. Its run-up at the close of last year also came amid heightened tension over developments in the Middle East and a dollar battered by US interest rate cuts.