Gold Prices Surge on Trade War Fears
? Gold Prices:

Spot Gold: $2,940.96/oz (+0.3%) | Record High: $2,947.23/oz
Gold Futures (April): $2,957.80/oz (+0.2%)

? Precious Metals Performance:

Platinum Futures: $992.70/oz (+0.2%)
Silver Futures: $33.35/oz (+0.9%)

Key Drivers Behind the Rally
? Trump’s Tariff Threats:

25% tariffs on automobiles, pharmaceuticals, and semiconductors planned within a month.
Potential 25% tariffs on all lumber imports.
Increased trade war fears with China, despite Trump hinting at a possible trade deal.

? Stronger Dollar Limits Gains:

Hawkish Fed Minutes signal fewer interest rate cuts in 2024.
Stronger U.S. dollar pressures gold prices, preventing a larger breakout.

? Market Uncertainty Driving Safe-Haven Demand:

Investors shift to gold and the yen amid rising trade risks.
Equities under pressure as global trade concerns weigh on risk sentiment.

? Key Takeaways
? Gold hit a record high at $2,947.23/oz before pulling back slightly.? Safe-haven demand surged as Trump escalated tariff threats.? A strong U.S. dollar and Fed’s hawkish stance limited gold’s gains.? Platinum and silver also gained, tracking gold’s strength.
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