At 11:50 GMT, XAU/USD $ 3026.48, an increase of $ 25.35 or +0.84%.
Geopolitical risks stimulate the demand for safe haven
A renewed conflict in the Middle East has been a primary engine of Gold’s Rally. Israeli air strikes on Gaza are intensified, in which Palestinian health officers reported more than 400 victims. The breakdown of a two-month ceasefire and the promise of Israel to use a greater force has increased concern about the market, as a result of which investors increase the exposure to gold as a cover against geopolitical instability.
Trump -Tariffs add economic uncertainty
As an addition to the uncertainty, the tariff policy of former US President Donald Trump came into the picture. His administration has already imposed a 25% duty on steel and aluminum, in force since February, and is planning to introduce extra mutual and sectoral rates on 2 April. These measures can disrupt global trade, stimulating the inflation risks and the profession of Gold as a value of value.
Federal Reserve policy in Focus
Traders keep a close eye on the following movements of the Federal Reserve, whereby the FOMC meeting attracted considerable attention this week. The Fed has kept the interest rates stable this year after the implementation of three tariff reductions in 2024. Markets expect that relaxation could resume in June, a scenario that would further support gold by making non-revenue assets more attractive.
Gold price forecast: potential for further upwards
Gold has risen to date for more than 15% years and has records 14 times. Although some resistance is expected around $ 3,050, analysts see further upwards as the current catalysts persist. Goldcore CEO David Russell suggests that an outbreak above $ 3,050 could push prices to $ 3,150- $ 3,200 by the end of the month. Given the strong Safe-Haven question and the Dovish fed the expectations, the Bullish Trend of Gold remains intact.
More information in our economic calendar.