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Gold climbs past $3025 as investors seek safety before tariffs
25-Mar-2025, 02:51
Gold climbed above $3025 per ounce on Tuesday after three sessions of losses, driven by safe-haven demand amid uncertainty over President Donald Trump's tariff plans. Trump hinted at imposing new tariffs on automobiles, aluminum, and pharmaceuticals, though some nations may be exempt when duties take effect next week. The dollar index held firm near 104.03, its highest in three weeks, supported by strong economic data. However, gold's upside was limited by Atlanta Fed President Raphael Bostic's comments, who expects only a modest 25-basis-point rate cut by year-end. MCX April bullion futures traded up by Rs 367 at Rs 87645 per 10 grams. Investors now await Friday's PCE index release for further policy direction.
Gold climbed above $3025 per ounce on Tuesday after three sessions of losses, driven by safe-haven demand amid uncertainty over President Donald Trump's tariff plans. Trump hinted at imposing new tariffs on automobiles, aluminum, and pharmaceuticals, though some nations may be exempt when duties take effect next week. The dollar index held firm near 104.03, its highest in three weeks, supported by strong economic data. However, gold's upside was limited by Atlanta Fed President Raphael Bostic's comments, who expects only a modest 25-basis-point rate cut by year-end. MCX April bullion futures traded up by Rs 367 at Rs 87645 per 10 grams. Investors now await Friday's PCE index release for further policy direction.
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