Gold prices at high levels at all times amid trump tariff concerns – CNBC TV18

Gold prices reached an all -time high on Thursday, 20 February as concerns over US President Donald Trump’s tariff policies, promoting the fears of inflation and a possible global trade war.

Investors sought security in the bullion, which rose 0.5% as 0621 GMT to $ 2,945.83 an ounce.

Earlier in the session, it reached a record peak of $ 2,947.11 per ounce.

So far this year, Gold has increased by 12%, repeatedly breaking records and has increased geopolitical and economic uncertainties.

The US Gold Futures also rose 0.9% to $ 2,963.80 an ounce on Thursday.

Gold prices in India

In India, the domestic gold market reflected the global growth. According to data from Goodreturns:

• The price of 24-Core Gold is ₹ 8,804 per gram
• The price of 22-Core Gold is ₹ 8,070 per gram
• 18-Core Gold is priced at ₹ 6,603 per gram

Major factors running gold prices

Tariff uncertainty us:

Trump has imposed 10% tariff on sugar imports and 25% tariff on steel and aluminum. He recently announced that additional tariffs on wood, cars, semiconductors and pharmaceuticals would be introduced within a month, intensifying the fears of trade war.

Inflation and Fed Policy: The minutes of the latest Federal Reserve Meeting detected concerns about the increase in inflation due to Trump’s trade policies. While the Fed is cautious about the rate cuts, the possibility of continuous inflation is keeping investors rapidly on gold.

Strong central bank procurement: Central banks have continued to increase their gold reserves, while gold ETFs are supporting further prices from net sellers from marginal buyers.

Demand for safe haveon: Gold remains a favorite rescue against geopolitical risks with ongoing conflicts and economic instability driving.

Will gold be hit $ 3,000 an ounce?

Market experts believe that if the current economic and geopolitical trends remain, then a mark of $ 3,000 an ounce reaches.

Tim Waterr, the main market analyst of KCM trade, said, “Uncertain views for both global trade and inflation are proving favorable for gold and working to bring a level of $ 3,000 to the range.”

Global X analyst Trevor Yets said, “Gold should benefit from the demand for strong physical market, flexible central bank decreased from procurement and as a physical gold ETF infection for marginal buyers from sellers,” Global X. Analyst Trevor Yets said.

Despite the speed of boom, some factors can slow down gold climb:

• If diplomatic progress is made to solve the Russia-Ukraine conflict, the safe-havan demand for sleeping may be weak.
• Although the rate cuts are unlikely in the near period, any unexpected change in the Fed Policy can affect the appeal of gold as a non-orching property.

,With Reuters input