Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices pushed higher in Asian trading on Tuesday, building on a string of record highs as investors sought safety amid growing uncertainty surrounding U.S. President Donald Trump’s trade policies and rising geopolitical tensions worldwide.
Markets also remained cautious ahead of this week’s Federal Reserve meeting. While the central bank is widely expected to keep interest rates unchanged on Wednesday, the event has reinforced a broader risk-off mood across global markets.
Spot gold climbed 1.1% to $5,062.97 an ounce by 04:43 GMT, after touching a fresh all-time high of $5,111.11 on Monday. April gold futures slipped 0.5% to $5,098.26, reflecting some near-term consolidation after the sharp rally.
The strength spilled over into other precious metals. Spot silver surged nearly 4% to $107.94 an ounce after briefly topping $111, while platinum jumped 2.7% to $2,656.27.
Uncertainty Storm Drives Haven Flows
Demand for bullion has surged in recent weeks as Trump intensified trade rhetoric against several U.S. partners. The president threatened what markets see as an effective trade embargo on Canada, warning of 100% tariffs if Ottawa pursues a trade deal with China. On Monday evening, Trump also said he would raise tariffs on South Korean goods to 25%, accusing Seoul of delaying implementation of a trade agreement.
Although Trump has softened his stance on Greenland and rolled back tariff threats against Europe, investors remain wary of further abrupt policy shifts.
Geopolitical risks have added another layer of anxiety, particularly in the Middle East, where the arrival of U.S. naval forces has heightened concerns over tensions involving Iran.
OCBC Lifts Gold Outlook
Reflecting the changing landscape, Singapore-based OCBC on Tuesday raised its 2026 gold price forecast to $5,600 an ounce, up from a previous target of $4,800.
The bank cited a deeply risk-averse global environment shaped by geopolitical instability, economic uncertainty, and rising investor demand for safe-haven assets.
They cautioned, however, that the recent surge could invite short-term profit-taking, leaving room for temporary pullbacks even as the broader trend remains firmly bullish.
