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Gold

Trade Uncertainty Propels Gold’s Record-Breaking Run

India Gold Demand Slump Deepens as Asia Faces Soaring Prices
India Gold Demand Slump Deepens as Asia Faces Soaring Prices

Gold is holding steady near historic levels as multiple factors reinforce its haven appeal. The precious metal, trading over $2,940 an ounce, has been bolstered by President Trump’s latest announcement of 25% tariffs on automobiles, semiconductors, and pharmaceuticals.

Adding to the momentum are geopolitical tensions sparked by U.S.-led Ukraine peace initiatives and sustained central bank buying. After surging more than 25% in 2024, gold’s outlook remains bullish.

Goldman Sachs has upgraded its year-end forecast to $3,100, suggesting prices could even reach $3,300 if economic policy uncertainty continues. Meanwhile, silver is also performing well, up 14% this year to around $33 an ounce.

Eight more from the desk

Other dispatches from the bullion wire.

These Gold Charts Keep Me Up at NightFed & yieldsUBS: Tariff-Driven Inflation Could Propel Gold’s Historic Run
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