- Gold climbed 0.8% to $2,914.45 an ounce after the U.S. imposed tariffs on Canada, Mexico, and China, triggering swift retaliations. Beijing’s 15% duties on U.S. farm goods fueled safe-haven demand, pushing bullion higher after its first weekly decline of 2025.
- Gold had hit a record $2,955 on Feb. 24 but dipped due to profit-taking. Investors are now pricing in Fed rate cuts as weak U.S. data signals economic slowdown, further boosting gold’s appeal. Goldman Sachs sees prices reaching $3,300by year-end Silver and palladium gained, while platinum remained steady. The Bloomberg Dollar Spot Index fell 0.2%.
Why it matters
Gold’s rebound signals rising safe-haven demand amid trade tensions and economic uncertainty, with investors eyeing potential Fed rate cuts and Goldman Sachs forecasting prices to hit $3,300 by year-end.
