Gold prices have surged to record highs in early 2025, surpassing $2,880 per ounce and projected to reach $3,000 this quarter. Investors are flocking to gold as a safe haven amid rising trade uncertainties and geopolitical tensions linked to Trump’s tariff maneuvers and remarks about the Gaza Strip.
Tariffs on imports from Canada and Mexico, though delayed, have fueled fears of inflation and supply shortages, leading to increased stockpiling in New York. ING and UBS have raised their forecasts, citing potential Federal Reserve rate cuts and sustained central bank purchases as factors likely to further drive gold’s rally.
Why Donald Trump’s first weeks in office have sparked a rush to buy gold
Feb 07, 2025
Article from Markets Insider by Filip De Mott
Article Synopsis
