Gold prices surged above $3,172 an ounce on Thursday, hitting a new record high, as a weaker dollar and escalating trade tensions between the U.S. and China boosted demand for the safe-haven metal. The surge followed President Trump's decision to raise tariffs on Chinese goods to 125%, up from 104%, even as he temporarily eased duties on other countries. The dollar index fell more than 1%, making gold more affordable for buyers using other currencies. Meanwhile, U.S. consumer prices unexpectedly fell in March, but inflation concerns remained high amid the new tariffs. As a result, traders are now betting that the Federal Reserve will resume interest rate cuts in June, with expectations for a full percentage point reduction by the end of the year. Gold continues to benefit from its traditional role as a hedge against economic and geopolitical uncertainty. (Newsmaker23)
Source: Trading Economics
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