BULLS IN CHARGE AS TRUMP HITS TARIFF PAUSE. $3,150/OZ UP NEXT?
BULLS IN CHARGE AS TRUMP HITS TARIFF PAUSE. $3,150/OZ UP NEXT?
Gold prices have surged, with spot gold climbing 1.5% to $3,129.33 per ounce, and U.S. gold futures increasing by 2.2% to $3,145.80.
This surge is attributed to President Donald Trump's decision to raise tariffs on Chinese imports from 104% to 125%, intensifying trade tensions and boosting demand for safe-haven assets.
Following a 90-day pause on certain tariffs, global markets experienced significant rallies.
The FTSE 100 and major European indices surged, signaling temporary investor relief.
However, underlying uncertainties persist due to ongoing tariffs and protectionist policies.
Marex analyst Edward Meir predicts that gold could reach $3,200 by month-end, citing continued economic uncertainties and strong demand for gold as a safe-haven investment.
Gold's recent performance has led to discussions about potential new all-time highs.
Technical analysts are closely monitoring price movements, with some suggesting that levels around $3,150 per ounce could be the next significant target if bullish momentum continues.
