Gold extended its strong rally for a seventh straight week as trade war fears intensified, reinforcing demand for the metal as a safe-haven investment.
The price climbed 0.3% to $2,936.99 per ounce on the day, bringing the weekly gain to about 2.6%. Ongoing economic uncertainty and recent calls for reciprocal tariffs by President Trump have further boosted investor interest in gold. Market watchers are now closely watching the $3,000 level as the next key resistance point.
Analysts point out that persistent geopolitical tensions, slowing global growth indicators, and a cautious outlook for interest rates are supporting bullion prices. Central-bank buying and continued investor flows into gold-backed funds have also contributed to the metal’s momentum.
While short-term volatility is always possible, the sustained weekly advances suggest a broader shift toward risk aversion among investors. If demand remains steady and economic concerns continue, gold could test higher levels in the coming sessions. Conversely, stronger-than-expected economic data or a meaningful shift in trade rhetoric could temper gains.
For investors, the current environment highlights gold’s role as portfolio insurance during periods of heightened uncertainty. Traders will be monitoring U.S. economic releases, monetary-policy signals, and developments in trade talks to gauge the metal’s next moves.