Gold prices rise from 3-wk low; Trump’s new tariff threat reignites haven demand
Gold prices have rebounded from a near four-week low, driven by renewed investor demand for safe-haven assets amid escalating global trade tensions. Spot gold rose 0.5% to $2,996.60 an ounce, while U.S. gold futures climbed 1.3% to $3,010.70. This uptick follows U.S. President Donald Trump's intensified tariff threats against China and the European Union, heightening fears of a prolonged trade war and potential global recession. Analysts suggest that such uncertainties are bolstering demand for gold, traditionally viewed as a safe-haven asset. Despite recent fluctuations, gold has demonstrated resilience, reaching an all-time high of $3,167.57 on April 3. Analysts, including those from Bank of America Securities and Goldman Sachs, project continued strength, with Goldman forecasting a price target of $3,300 by year-end. Investors are closely monitoring upcoming economic indicators, such as the U.S. Federal Reserve’s meeting minutes and inflation data, for further ...