Trade war peace indicate gold to record heights

By anushree mukherjee

(Reuters) gold touched an all-time high on Monday and violated the level of $ 3,100 when the investors turned to Safe-Haven’s assets, since the tariff plans of US President Donald Trump would take up a global trade war and economic effects.

Spot Gold rose around 0255 GMT by 0255 GMT from 0255 after he used to reach a record high of USD 3,107.26. Bullion rose by over 8% in March.

The dollar index did 0.2%and made gold for buyers who held other currencies.

“The announcements of the US tariff announcements, which are highly asked as defensive game, have increased before the mutual announcements of the US tariff,” said Tim Waterer.

“If the tariff announcements this week are not as serious as feared, the gold price could begin to trace because the profit can be triggered from the heights.”

Trump is expected to announce mutual tariffs on April 2, while the Auto Zölle begin on April 3.

The concerns of the global trade war expanded Trump on Sunday that he was “sour” with the Russian President Vladimir Putin and will impose a buyer of Russian oil secondary tariffs from 25% to 50% if he believes that Moscow blocks his efforts to end the war in Ukraine.

Gold, which is traditionally regarded as protection against political and economic uncertainty, has increased over 18% this year. Bullion’s rally has caused several banks to increase their 2025 gold price forecasts.

In the meantime, Mary Daly, President of the Federal Reserve Bank, confirmed the inflation data published on Friday that she confirms the confidence in her basic expectation that two interest rate cuts this year are a “reasonable” forecast in order to confirm a reduced trust in her initial expectation.

Spot Silver rose by 0.4% to $ 34.23 per ounce, platinum was constant at $ 983.51 and palladium rose by 0.4% to $ 975.70. All three metals are set for a monthly increase.

(Reporting of anushree mukherjee in Bengaluru; editorial team of Eileen Soreng and Rashmi aich)