Gold prices surged on Tuesday as a weaker US dollar and increased safe-haven demand pushed spot gold up 0.7% to $2,914 an ounce. The gain follows the imposition of new tariffs by US President Donald Trump, which has sparked global trade tensions.
The US dollar index fell 0.7%, making dollar-priced gold more affordable for buyers holding other currencies. High levels of uncertainty in the markets have led investors to seek safe-haven assets like gold and silver.
Market expectations point towards a potential interest-rate cut by the Federal Reserve as early as the second half of this year, driven by concerns over economic instability and a weakening job market. JPMorgan forecasts gold prices to reach $3,000 an ounce by 2025.
Silver, platinum, and palladium also saw gains, with spot silver up 0.3% to $31.79 an ounce, platinum firmed 0.9% to $961.80, and palladium added 1% to $947.
Source: https://www.cnbc.com/2025/03/04/gold-eases-as-investors-exercise-caution-ahead-of-trump-tariffs.html