GOLD PRICE JUMPS BACK ABOVE $3,000 AMID TRADE WAR THREAT TO GLOBAL GROWTH
GOLD PRICE JUMPS BACK ABOVE $3,000 AMID TRADE WAR THREAT TO GLOBAL GROWTH
Gold (XAU/USD) regained positive momentum, surpassing the $3,000 per ounce mark during the Asian session on Wednesday, following a previous unsuccessful attempt to breach the $3,022-$3,023 resistance level.
Persistent concerns over escalating trade tensions and potential recession have driven investors toward gold as a safe-haven asset, contributing to its price surge.
The recent appreciation in gold prices coincides with heightened trade tensions, particularly between the U.S. and China, as investors seek stability amid global economic uncertainties.
The implementation of significant tariffs and retaliatory measures has introduced volatility across financial markets, further bolstering gold's appeal as a secure investment.
Analysts anticipate that gold may continue to benefit from ongoing geopolitical and economic uncertainties, with potential for further price appreciation if trade tensions persist and recession risks remain elevated.
