Islamabad, April 01: Gold prices soared to a new all-time high on Tuesday as investors flocked to the safe-haven asset ahead of an upcoming tariff announcement by U.S. President Donald Trump.
As of 0745 GMT, spot gold had edged up 0.1% to $3,125.69 per ounce after briefly hitting a record-breaking $3,148.88. Meanwhile, U.S. gold futures also saw a 0.1% increase, reaching $3,153.40 per ounce.
Analysts attribute this surge to investor concerns over potential trade restrictions, with many seeking refuge in gold ahead of Trump’s scheduled tariff announcement on Wednesday.
According to market experts, fears of new U.S. tariffs have driven investors toward gold as a safeguard against possible financial turbulence. Traders are now eyeing a potential retest of the $3,200 resistance level.
This rally marks gold’s most significant quarterly gain since 1986, fueled by sustained central bank demand, expectations of interest rate cuts by the U.S. Federal Reserve, and ongoing geopolitical tensions in both the Middle East and Europe.
Read More: Gold Rates in Pakistan Today, March 17 2025
Additionally, growing inflows into gold-backed exchange-traded funds (ETFs) have contributed to the continued price surge.
Despite indications from technical charts suggesting overbought conditions, analysts believe that uncertainty surrounding future tariffs—particularly on automobiles, set to be enforced on April 3—could sustain strong demand for gold.
In contrast, silver declined by 0.7% to $33.83 per ounce, platinum dropped 0.9% to $984.25, while palladium saw a modest rise of 0.4% to $986.79.
