Gold Surges to Record Highs Amid Trade Tariff Uncertainty

Gold prices climbed to all-time highs on Monday, as escalating trade tensions and global economic uncertainty fueled safe-haven demand.

• Spot gold: Up 1.1% to $2,892.30 per ounce
• Gold futures (April contract): Up 0.9% to $2,916.05 per ounce

Key Drivers:

1. Trump’s Tariff Moves Spark Market Jitters
   • 25% tariffs imposed on all aluminum and steel imports added to concerns over global trade disruptions.
   • Plans for reciprocal tariffs heightened fears of a broader trade war.
   • Investors flocked to gold as a hedge against economic uncertainty.
2. Safe-Haven Demand Outweighs Dollar Strength
   • The U.S. dollar firmed, yet gold remained resilient, reflecting strong risk aversion among traders.
3. Mixed Performance in Other Metals
   • Silver: Flat at $32.465 per ounce
   • Platinum: Up 0.6% to $1,015.10 per ounce
   • Copper: LME benchmark flat at $9,416.45 per ton, March futures slightly lower at $4.5990 per pound

Market Outlook

With trade tensions escalating and economic growth concerns mounting, gold could see further upside, especially if market volatility persists. Investors will closely watch geopolitical developments and central bank moves for further cues.