Gold prices continue to rise for the second consecutive day, nearing historic highs as they trend toward a seventh straight weekly gain. This upward shift is influenced by safe-haven demand due to U.S. trade policy changes, specifically President Trump's directive on potential tariffs. Increased concerns about trade tensions have impacted the market. Additionally, stronger-than-expected inflation reports indicate that the Federal Reserve may hold interest rates, which traditionally helps gold's appeal. Despite challenges, trade uncertainties and central bank purchases underline gold's resilience, aided by a weakening dollar.
Gold prices soared toward historic highs for the second day, driven by safe-haven demand amid escalating U.S. trade tensions and robust inflation indicators.
Recent economic data reveals stronger producer inflation that suggests the Federal Reserve might keep interest rates steady, which traditionally impacts gold negatively.
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