Gold prices have surged to a historic peak of $3,057 per ounce over three consecutive days, driven by Jerome Powell's recent speech. His avoidance of a hawkish tone and emphasis on uncertainty from tariffs align with investor expectations. The Federal Reserve's reduced growth forecasts and projections for two potential rate cuts this year contribute to this bullish sentiment. Concerns over Donald Trump's trade policies and the economic impacts of tariffs shape the market backdrop, allowing gold to thrive despite looming economic challenges.
Gold has reached historic highs for a third consecutive day, achieving $3,057 per ounce in spot trading, influenced by economic factors and Powell's speech.
Jerome Powell's non-hawkish remarks and focus on tariff-induced uncertainty provide the backdrop for gold's rise, while forecasters predict two to three rate cuts this year.
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