Gold Price In New Record Highs As Trade Tariff War Escalates

From investingcube.com

Gold price rose to new record highs of $3,086 on Friday, after US President Donald Trump added fuel to trade tariff fears with 25% levy on auto imports into the country. The precious metal is likely to stay on the ascending channel as the market waits for a new set of “reciprocal” tariffs starting April 2. However, the US dollar has support from economic data released on Wednesday, which have eased concerns that a recession could be on the cards. US GDP grew at a slower rate of 2.4% in Q4 2024, down from 3.1% in the third quarter but higher than the median forecast figure of 2.3%. Initial Jobless Claims also came ... (full story)