Gold Commentary : Gold Prices Surge Past $3,000 on Tariff Threats, Soft US Inflation 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 rose to an all-time high last week breaking though the key $3,000 level with the safe haven supported by President Donald Trump’s fresh tariff threats, while soft U.S. inflation prints further aided sentiment. This supported silver as well, which marked an all time high on domestic front, breaching Rs. 1 lakh. Escalating trade tensions and economic indicators led to a more than 3% rally in both Gold and Silver last week President Donald Trump threatened 200% tariffs on European alcoholic beverages, including wines and champagnes, in retaliation to the European Union's decision to impose a 50% levy on American whiskey. The EU's move was a response to Trump's recent 25% tariffs on imported steel and aluminum. On data front both the CPI and PPI indicated weaker-than-expected inflationary pressures, reinforcing expectations of potential interest rate cuts by the Federal Reserve later this year. The Federal Reserve is scheduled to meet on March 18-19 to deliberate on interest rate policy. Focus today will be on US retail sales data.
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