Gold prices fall after reaching record high, impacted by broader market selloff

From Yahoo Finance: 2025-04-02 23:18:00

Gold prices fell 0.8% to $3,108.55 after hitting a record high of $3,167.57, following a wider market selloff due to Trump’s import tariffs. U.S. gold futures dropped 1.1% to $3,132.40, with traders selling to cover losses. Despite the dip, gold remains a safe-haven asset, expected to be sustained by central bank buying.

Silver plummeted 5.9% to $32.01, its lowest since March 4, impacted by global selloff concerns. Platinum and palladium also fell, with platinum down 3.1% to $952.80 and palladium losing 3.5% to $935.61. Silver, more exposed to market fluctuations, faces demand pressures due to its industrial applications.

HSBC predicts gold prices may average $3,015 by end-2025, citing potential pressure from physical and financial market factors. Despite a potential decline, gold’s rally is expected to be supported by central bank buying to diversify reserves away from the dollar. Gold’s overall trajectory remains intact, having surged over $500 this year.



Read more at Yahoo Finance: Gold eases after record high on knock-on effect of wider selloff