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Gold breaks all-time high as Middle East tensions and tariffs fuel fear
19-Mar-2025, 02:41
Gold soared past $3050 per ounce in Asia electronic trades on Wednesday, hitting a record high as investors sought safety amid escalating Middle East tensions and rising US tariff concerns. Israel's strike on Gaza and Putin's rejection of Trump's proposed 30-day ceasefire fueled uncertainty. Additionally, US tariffs, including a 25% levy on steel and aluminum, have heightened trade tensions ahead of April 2 duties. Markets now await the FOMC decision for clues on future monetary policy. MCX April bullion futures traded lower by Rs 112 at Rs 88614 per 10 grams. Gold has surged nearly 16%, whereas silver continues to outperform, with gain of more than 18% so far this year. Fall in the US dollar, trade war and geo political worries have resulted in the Bull Run in yellow metal.
Gold soared past $3050 per ounce in Asia electronic trades on Wednesday, hitting a record high as investors sought safety amid escalating Middle East tensions and rising US tariff concerns. Israel's strike on Gaza and Putin's rejection of Trump's proposed 30-day ceasefire fueled uncertainty. Additionally, US tariffs, including a 25% levy on steel and aluminum, have heightened trade tensions ahead of April 2 duties. Markets now await the FOMC decision for clues on future monetary policy. MCX April bullion futures traded lower by Rs 112 at Rs 88614 per 10 grams. Gold has surged nearly 16%, whereas silver continues to outperform, with gain of more than 18% so far this year. Fall in the US dollar, trade war and geo political worries have resulted in the Bull Run in yellow metal.
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