Gold prices have recently dipped following a record high, but continue on a trajectory for an eighth consecutive weekly gain due to ongoing geopolitical and trade uncertainties. President Trump's hints at new tariffs initially fueled risk-averse behavior, leading investors to pursue gold. However, recent remarks suggest a softer approach may be taken, potentially alleviating risk concerns. Additional factors like mixed economic data and diplomatic developments in the Russia-Ukraine conflict will significantly influence gold's status as a safe haven.
Ongoing uncertainty over trade policy, with US President Donald Trump recently threatening to impose new tariffs, sparked risk-off sentiment and prompted investors to seek safe-haven assets such as gold.
Despite numerous tariff threats, the decision to impose only limited measures until now may ease risk aversion and weigh on gold prices.
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