Gold Prices Surge Amid Market Uncertainty Over Tariff Policies

Muscat: Gold prices extended their upward momentum today as investor concerns over potential tariff policies added to economic uncertainty. The lingering unpredictability surrounding former U.S. President Donald Trump’s proposed trade tariffs has led to heightened demand for safe-haven assets like gold.

Spot gold saw a modest rise of 0.2%, reaching $2,903.56 per ounce, while U.S. gold futures climbed 0.6% to $2,916.80. The surge in gold prices comes as investors seek stability amid growing trade tensions and economic unpredictability. Analysts suggest that continued ambiguity regarding trade policies and inflation concerns may sustain the upward trajectory of gold in the coming weeks.

Despite gold’s steady ascent, the broader precious metals market exhibited mixed trends. Silver declined by 1.3%, settling at $32.37 per ounce, reflecting short-term fluctuations in investor sentiment. Meanwhile, platinum prices edged up by 0.5% to $980.29 per ounce, showcasing modest gains. Palladium led the market with a notable rise of 1.4%, reaching $976.35 per ounce, driven by strong industrial demand.

Market experts believe that gold’s bullish trend may continue as global economic uncertainty persists. “Gold remains a preferred hedge against economic volatility. With concerns over tariffs and inflationary pressures, we anticipate sustained investor interest in the metal,” noted a leading commodities strategist.

The recent gains in gold prices also reflect ongoing shifts in central bank policies and currency fluctuations. A weaker U.S. dollar has further bolstered gold’s appeal, making it more attractive to international investors. Additionally, expectations of potential interest rate adjustments by the Federal Reserve have added to market speculation, influencing price movements in the precious metals sector.

Looking ahead, analysts caution that any significant policy announcements regarding tariffs and trade agreements could impact market dynamics. Investors will closely monitor geopolitical developments and economic indicators to assess future trends in gold and other precious metals.

With gold’s continued strength in uncertain times, market participants remain vigilant, keeping a close watch on evolving economic policies and their potential implications on global financial markets.

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