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As global trade tensions escalate under President Donald Trump’s tariff policies, gold—widely regarded as a safe-haven asset—has surged to a record high. The spot price of gold recently hit $2,979.76 per ounce, just shy of the $3,000 milestone. This comes after a 27% increase in 2024, followed by an 14% gain so far this year.

The primary drivers behind this gold rally are:

1. Rising economic uncertainty due to the tariff war, pushing investors toward safer assets.

2. Growing expectations of Federal Reserve rate cuts, particularly after U.S. producer price data came in lower than expected, reinforcing bets on monetary easing.

However, the sustainability of gold’s rally depends on the extent of Trump’s tariff policies and the Federal Reserve’s interest rate decisions. Investors should closely monitor U.S. trade policies and central bank signals for potential shifts in gold price trends.

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