Gold Commentary : Gold Hits Record $3000 Again Amid Concerns Over Donald Trump`s Tariffs Says Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Quote on Gold Commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.
Gold prices scaled a record high above the key $3000 mark, for the second in this week, as investors sought cover from economic concerns fueled by US President trump’s tariff policies. Ultimate safe haven asset, during this uncertain times of geopolitical instability has been risen 14% so far this year. Since President Trump took office, gold has hit record highs 14 times as trade tensions have led to growing safe haven demand. Israel has launched ‘extensive strikes in Gaza, saying it was hitting Hamas targets in the enclave. The attacks appeared to be the most intense assault on the enclave since a fragile ceasefire took effect in January. On other hand, President Trump said he would hold Iran responsible for any attacks carried out by the Houthi group that it backs in Yemen. New economic projections from Fed officials will offer clarity of how U.S. central bankers perceive the potential effects of Trump administration policies. US retail sales yesterday was reported better than previous month, data was once again in the positive territory slightly weighing on bullions. Focus today will be on US housing numbers and Industrial production data.
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