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Gold prices rose in Asian trading on Friday, staying close to recent record highs as investors sought safe-haven assets amid global uncertainty ahead of key U.S. labor market data.
Key Gold Price Movements
- Spot gold: $2,862.67 per ounce (+0.2%)
- Gold futures: $2,884.81 per ounce (+0.3%)
- Weekly gain: +2.4%
Gold was on track for strong weekly gains, driven by:
✅ Escalating U.S.-China trade tensions (renewed tariff war)
✅ Geopolitical concerns in the Middle East (Trump’s comments on Gaza)
✅ A weaker U.S. dollar (boosting gold’s appeal)
Analyst Projections: Bullish Gold Outlook for 2025
- Citi: Predicts gold could hit $3,000 an ounce in the short term
- UBS: Expects $3,000 by end-2025, citing sustained haven demand
Market Focus: Nonfarm Payrolls & Fed Rate Policy
Gold prices hovered near their record high of $2,882.35, supported by dollar weakness. However, the U.S. dollar steadied on Friday as markets awaited:
🔍 Key U.S. nonfarm payrolls data (due later today)
- A strong payrolls report could dampen gold’s rally, as it would:
- Reinforce the Federal Reserve’s cautious stance on rate cuts
- Reduce expectations for near-term monetary easing
- The Fed has signaled no rush to cut rates, citing:
- Sticky inflation concerns
- Uncertainty over Trump’s economic policies
⚠️ Long-term risk for gold: If the Fed keeps rates higher for longer, gold’s upside momentum could be limited.
Other Precious Metals
- Platinum futures: Flat at $1,021.65 per ounce
- Silver futures: +0.2% to $32.678 per ounce
Copper Prices Climb on China Stimulus Bets
Copper prices rose on Friday, extending gains as traders anticipated more stimulus from China to counter U.S. tariffs.
Key Copper Price Movements
- London Metal Exchange (LME) Copper: +1.1% to $9,389.85 per ton
- March Copper Futures: +0.6% to $4.4875 per pound
Trade War & China’s Response
- Trump imposed a 10% tariff on all Chinese imports this week
- China retaliated, heightening economic uncertainty
- JPMorgan analysts: Trump could still push for 60% tariffs on China
- China’s economy is slowing, increasing pressure on Beijing to introduce more stimulus measures
📌 Market outlook: Traders are betting on China’s policy support to sustain demand for industrial metals like copper.
