Gold Prices Rise for Eighth Consecutive Week
Gold prices remain on an upward trajectory for the eighth consecutive week, despite a slight pullback on Friday. The safe-haven demand is fueled by Trump’s tariff threats and economic uncertainty, keeping investors focused on the possibility of reaching the psychological $3,000 level.
Gold Hits Record High Before Slight Pullback
- Spot gold fell 0.34% to $2,929 per ounce by 09:11 MSK
- Futures declined 0.43% to $2,942
- Gold gained over 1% this week, reaching an all-time high of $2,954 on Thursday
Analysts note that gold remains resilient, with strategic buyers continuing to accumulate the metal. IG strategist Yeap Jun Rong highlighted that gold’s appeal as a risk hedge remains strong amid ongoing economic uncertainty.
"Buyers are seriously eyeing the $3,000 psychological level, and it’s becoming increasingly difficult to go against the broader upward trend."
Trump’s Trade Policy Fuels Gold’s Rally
One of the primary catalysts for gold’s surge is Donald Trump’s new tariff threats. He announced this week that he will introduce additional tariffs within the next month or sooner.
- Tariffs on automobiles, semiconductors, and pharmaceuticals were already planned
- Trump is now adding lumber to the list
Since taking office on January 20, Trump has implemented:
- 10% tariffs on Chinese imports
- 25% tariffs on steel and aluminum
These actions have heightened concerns about inflation risks, driving demand for gold as a safe-haven asset.
Fed Policy: Interest Rates and Inflation Risks
The Federal Reserve remains cautious about future rate cuts. Fed Governor Adriana Kugler stated that it is appropriate to maintain the current rate levels given the balance of risks.
However, the uncertainty surrounding Fed policy continues to influence the gold market.
Other Precious Metals Performance
While gold leads the rally, other precious metals remain volatile:
- Silver fell 0.4% to $32.79 per ounce
- Palladium declined 0.8% to $969.84
- Platinum dropped 0.8% to $970.28
Gold’s Outlook: Is $3,000 Within Reach?
Analysts believe that gold’s next move depends on:
- New trade policy announcements by Trump
- US inflation data
- Federal Reserve’s stance on interest rates
If economic uncertainty persists, gold could continue its upward trend, testing the $3,000 level.
Do you have news that could become a sensation?
Or do you want to try yourself as an editor?
On altn.news , it's possible!
Share your materials, express your opinion, and test your skills as a journalist or editor.
It’s simple:
✅ Download the app:
✅ Register on the website.
✅ Create and publish your news.
Who knows, maybe your material will become the next big headline!
Start today on altn.news.
The editorial board is not responsible for the content and accuracy of material taken, sent or obtained from other sources. The publication of such materials is for informational purposes only and does not imply automatic endorsement or approval of their content.
