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Gold prices edged lower in Asian trade on Monday, following a record-breaking rally, as investors balanced safe-haven demand against signs of progress in global geopolitical tensions.
- Spot Gold: Down slightly to $2,982.80/oz
- Gold Futures (April): Fell 0.3% to $2,991.62/oz (by 01:14 ET / 05:14 GMT)
- Friday’s Record High: $3,005.08/oz
Safe-Haven Demand Amid Global Risks
- Geopolitical tensions remained a key driver after the U.S. launched airstrikes on Houthi rebels in Yemen, retaliating against attacks on Red Sea shipping lanes.
- Trade war fears persisted as President Donald Trump reiterated his plans for reciprocal and sectoral tariffs set to take effect on April 2.
- Russia-Ukraine ceasefire talks showed signs of progress, with Trump planning to speak with President Putin on Tuesday, leading to some risk-on sentiment.
- Profit-taking weighed on gold prices after last week’s surge past $3,000/oz.
Tariffs & Economic Concerns Keep Gold Supported
- Uncertainty remains over the extent of Trump’s tariff measures, particularly after policy shifts on Canada and Mexico.
- China, the EU, and other major economies have outlined retaliatory measures, which could escalate a global trade war.
- Inflation fears due to tariffs and potential economic slowdowns have fueled concerns of a U.S. recession.
- Upcoming central bank meetings, including the Federal Reserve, Bank of Japan, and Bank of England, are expected to provide further market direction.
- Key U.S. economic data—industrial production and retail sales—will also offer clues on the state of the world’s largest economy.
Other Precious Metals Show Mixed Performance
- Platinum Futures: Up 0.5% to $1,018.00/oz
- Silver Futures: Down 0.3% to $34.328/oz (after touching a five-month high)
As global markets await policy decisions and trade developments, gold remains a key asset, with volatility expected in the days ahead.
