Gold prices surpassed $3,000 per troy ounce for the first time, driven by investor concerns surrounding President Trump's fluctuating tariff policy and fears of an economic downturn and falling stock markets. The S&P 500 index has seen declines of over 10% recently. With ongoing trade tensions resulting in retaliatory tariffs globally, market analysts predict continuing demand for gold as a safe haven. Central banks are also increasing gold purchases to diversify reserves away from U.S. dollar dependency, further pushing prices upward as uncertainties mount.
Gold reached a record high above $3,000 per troy ounce, driven by investor uncertainty over tariffs and a faltering stock market, highlighting its status as a safe haven.
As tariffs between economies escalate, gold’s value surged, reflecting fears over economic slowdown and market volatility. Analysts anticipate sustained interest and price growth.
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