Gold Prices Surge to $3,000 Amid Global Trade Tensions
Gold Prices Surge to $3,000 Amid Global Trade Tensions
Gold prices (XAU/USD) recovered during the Asian session on Tuesday, climbing back to the $3,000 per ounce mark.
The surge follows a decline to a nearly four-week low around $2,957 on Monday.
Recent announcements of reciprocal tariffs by U.S. President Donald Trump have heightened fears of a global trade war, prompting investors to seek safe-haven assets like gold.
The threat of escalating trade tensions has contributed to increased market volatility, further bolstering gold's appeal.
Goldman Sachs has reiterated its forecast, predicting gold prices could reach $3,000 per ounce by the end of 2025, driven by factors such as Federal Reserve rate cuts, central bank purchases, and tariff-induced inflation concerns.
Citigroup analysts also anticipate gold prices hitting $3,000 per ounce within the next six to 18 months, citing geopolitical tensions and economic uncertainty as key drivers.
