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Gold surges past $3,100 as US tariffs, uncertainty propel safe-haven flows

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March 31 (Reuters) - Gold prices on Monday soared above $3,100 per ounce  
for the first time as concerns around U.S. President Donald Trump's  
tariffs and the potential economic fallout, combined with geopolitical  
worries, drove a fresh wave of investments into the safe-haven asset.

Spot gold prices hit a record high of $3,106.50 per ounce.

Gold prices have hit multiple record highs, gaining more than 18% so far  
this year - capitalising on its cachet as hedge against economic and  
geopolitical turbulence.

Earlier this month, it breached the psychological $3,000 per ounce mark  
for the first time - a significant milestone that experts say reflects  
growing concerns over economic instability, geopolitical tensions and  
inflation.

https://www.reuters.com/markets/commodities/gold-surges-past-3100-us-tariffs-uncertainty-propel-safe-haven-flows-2025-03-31/

Bullion's rally has prompted multiple banks to increase their price  
forecasts for gold this year.
"For now, gold's appeal as a safe haven and inflation hedge has further  
strengthened in light of these geopolitical concerns and tariff  
uncertainty. We remain constructive on the outlook of gold amid ongoing  
global trade friction and uncertainty," said analysts at OCBC.

Goldman Sachs, Bank of America and UBS have all raised their price targets  
for the yellow metal this month, with Goldman forecasting gold to hit  
$3,300/oz by the end of the year, up from $3,100. BofA expects gold to  
trade at $3,063/oz in 2025 and $3,350/oz in 2026 - an increase from its  
previous forecasts of $2,750/oz for 2025 and $2,625/oz for 2026

### - gold actually surged to $3,150.52 this morning as this bulletin was  
being copied across before then falling back to $3,137.93 only moments  
later, stock markets across asia tumbling 4% upon opening at the prospect  
of the tariffs being imposed worldwide now taking effect, different  
nation's potentially negative or even angry reactions to it likely only  
pushing gold higher depending on which way they go, but clearly no one's  
very happy about being driven out of stocks and into gold...

smile, hey maybe it's time i cashed-in all those kilo-bars have got  
stashed under my mattress for the last 20 years, they must be worth summat  
by now huh ;)

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Gold surges past $3,100 as US tariffs, uncertainty propel safe-haven flows slider <slider@anashram.com> - 2025-04-01 07:43 +0100
  Re: Gold surges past $3,100 as US tariffs, uncertainty propel safe-haven flows slider <slider@anashram.com> - 2025-04-06 03:35 +0100

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