Gold prices are soaring once again, breaking past the $3,200 mark this week and edging closer to the $3,300 milestone. The rally comes amid renewed global uncertainty, driven by escalating U.S.-China trade tensions, volatile equity markets, and recession concerns.
Gold Surges Over $200 in One Week
On the Comex Futures exchange, gold prices climbed above $3,235 per ounce, gaining more than $60 in just one session. In the spot market, prices are up over 1%, currently trading above $3,205. The metal has gained more than $200 in the past week alone, highlighting strong investor interest in safe-haven assets.
Trump Tariffs Spark Market Turmoil
The surge in gold follows fresh trade war jitters. President Donald Trump’s latest round of tariffs on Chinese imports—now in effect—sent shockwaves through global markets. In retaliation, Beijing announced an 84% tariff on U.S. goods, effective April 10, and issued travel warnings to its citizens about visiting the United States.
China has also moved to restrict imports of Hollywood films, signaling that the trade dispute is extending beyond goods into cultural exports.
Markets React to Inflation and Trade Uncertainty
While markets briefly welcomed Trump’s earlier 90-day delay on some duties, the reprieve was short-lived. Treasury Secretary Scott Bessent noted that more than 75 countries are interested in opening trade negotiations with the U.S., and President Trump expressed hope for a deal with China.
Adding to market anxiety, U.S. consumer prices unexpectedly dropped by 0.1% in March, mainly due to lower gasoline and used vehicle prices. However, analysts warn this dip may not last, as tariffs could push prices higher in the coming months.
Analysts Raise Gold Forecasts
Leading investment banks are turning more bullish on gold:
- Goldman Sachs now sees gold potentially surpassing $3,300. “In a recession, gold prices are poised to move higher,” said Daan Struyven of Goldman Sachs Research.
- Morgan Stanley forecasts gold hitting $3,400 by 2025, citing strong central bank demand and falling interest rates. Amy Gower, Head of Metals and Mining Strategy, noted the rally is likely to continue.
- SMC Global: In April 2025, gold is expected to see buying interest on dips, with a projected range of ₹87,000–₹93,000. Silver may trade between ₹90,000 and ₹1, 10,000.
Silver Also in Focus
Silver is also drawing attention. Despite recent declines to $30.25/oz, UBS analysts project a 25.7% price surge, with silver reaching $38/oz by late 2025. Analysts point to silver’s industrial demand and geopolitical sensitivity as key drivers.
As trade tensions escalate and economic signals remain mixed, gold’s role as a safe-haven asset is back in the spotlight. With major banks raising their forecasts and central banks continuing to buy, gold could be poised for even greater gains in the months ahead.
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
