Insignia Consultants | Gold hits record high, on track for best quarter since 1986 on tariff worries
Gold hits record high, on track for best quarter since 1986 on tariff worries
March 31 (Reuters) - Gold hit a record high and was set to post its biggest quarterly gain in over 38 years on Monday, as concerns over U.S. President Donald Trump's tariff plans widening the global trade war and triggering an economic slowdown boosted bullion's appeal.
Spot gold jumped 1.1% to $3,116.82 an ounce, as of 0638 GMT, after hitting an all-time high of $3,128.06 earlier. U.S. gold futures was up 1.1% to $3,148.00.
Gold, traditionally seen as a hedge against political and economic uncertainties, has risen over 18% so far this quarter, its biggest quarterly gain since September 1986.
Interest rate cut bets, central bank buying and exchange-traded fund (ETF) demand are the other factors that have supported the rally. The rapid price rise prompted multiple banks to increase their 2025 price forecasts.
The dollar index (.DXY), opens new tab eased 0.2%, making greenback-priced gold less expensive for buyers holding other currencies.
https://www.reuters.com/markets/commodities/trade-war-woes-propel-gold-record-highs-2025-03-31/
