Gold touched a $3,000 per ounce milestone on Friday, a fresh record high driven by risk aversion and rising expectations of Federal Reserve rate cuts. In the latest escalation of US President Donald Trump’s multi-front trade war, he warned of a 200% tariff on European wine and other alcoholic beverages after the EU imposed a 50% tax on American whiskey exports. Meanwhile, recent PPI and CPI data signaled easing price pressures in February, giving the Fed more room to cut rates and boosting the appeal of non-yielding gold. Further supporting the metal are strong ETF demand and sustained central bank buying, with China extending its purchases for a fourth consecutive month. For the week, bullion is set for a gain of nearly 3%.
You are viewing a single comment's thread from: