Gold price is close to $2,950 in the Asian market on Thursday.
It is near its record-high price of $2,956.
Trade tensions and slow economic growth make investors buy gold as a safe investment.
Lower inflation in the US makes people expect the Federal Reserve to reduce interest rates.
These factors are helping gold prices stay high.
GBP/USD is staying around 1.2950 during the European morning on Thursday. The pair is facing challenges due to a global tariff war and a halt in the US Dollar's decline. Traders are waiting for the US PPI data for new direction.
EUR/USD drops below 1.0880 in early European trading on Thursday. US-EU trade tensions are making investors worried. The US Dollar gains strength as a result. US inflation is slowing down, affecting market movements. Traders are now watching for ECB speeches and US PPI data for further clues.
Gold prices went up on Thursday. People are unsure about tariffs, so they are buying gold for safety. U.S. inflation was lower than expected. Lower inflation makes people think interest rates will go down. This helped gold prices rise.
TRUMP OPTIMISTIC ABOUT STOCK MARKET, DESPITE RECENT PRESSURE President Trump expressed optimism about the stock market, stating it will grow stronger. He believes markets will rise as economic developments unfold. Stocks have faced significant pressure recently due to Trump’s tariff policy. 25% tariffs were imposed on Canada and Mexico,