Gold prices hover around $2,900, with potential to break the all-time high of $2,956. Factors such as global market uncertainty, trade tensions, and ECB's rate cuts drive demand for gold. U.S. economic data suggests Federal Reserve rate cuts in 2025, increasing recession fears and boosting gold's appeal. Meanwhile, Mali's ban on foreign gold mining permits raises supply concerns. Analysts affirm gold's safe-haven status amid rising economic and political uncertainties, reinforcing high prices and potential for new peaks.
"Despite the delay in tariffs on automobile imports, reciprocal tariffs scheduled for April continue to raise concerns, favoring gold as a hedge against uncertainty."
"The European Central Bank's decision to cut interest rates influences market perceptions about global monetary policy, fueling gold's appeal as a safe haven."
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