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Gold rises as Trump tariff uncertainty fuels safe-haven demand

Gold prices rose 1.2% to $2,931.10 an ounce due to concerns over U.S. President Donald Trump's tariff plans, prompting safe-haven demand amid fears of a global trade war.
Goldman Sachs forecasts gold to reach as high as $3,100 per ounce by year-end, indicating a significant increase from its earlier prediction of $2,890.
Market analysts, including Jim Wyckoff from Kitco Metals, highlighted the importance of central bank buying in supporting gold prices during economic challenges.
Central bank purchases of gold may increase to an average of 50 tons a month, helping to drive prices higher during economic uncertainty, according to Bloomberg's reporting.

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The Print

Gold holds near record high on Trump tariff worries

By Anushree Mukherjee (Reuters) - Gold held firm near a record high on Thursday, as investors turned to bullion for safety on fears U.S. President Donald Trump's tariff plans would stoke inflation and

2 days ago·New Delhi, India

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The Globe & Mail

Gold marches higher as Trump’s tariff threat boosts demand

Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET

3 days ago·Canada

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Oil Price

Tariff Threats Propel Gold Prices To All-Time High

Gold prices soared to an all-time high on Wednesday after safe haven flows jumped amid U.S. President Donald Trump's growing tariff threats

3 days ago·London, United Kingdom

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The Standard

Gold headed toward US$3,000 on Trump threats

Reuters and staff reporter Gold prices advanced to an all-time high of US$2,946 (HK$22,979) an ounce on yesterday as trade war tensions and concerns over global economic growth drove safe-haven flows following US President Donald Trump's new tariff threats. "Gold's rally appears to be driven by...

3 days ago

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Spiegel

Gold price reaches record high

The precious metal has never been worth that much: In the morning, gold reached a price of $2947.01. In addition to President Trump's customs threats, the central banks are also responsible for this.

3 days ago·Germany

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Bloomberg

Gold Holds Near Record as Tariff, Geopolitical Angst Aids Demand

Gold held just below a record high as a fresh round of tariff threats from US President Donald Trump, coupled with mounting geopolitical intrigue, underscored the metal’s haven appeal even after a blistering rally.

4 days ago·United States

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