Gold prices surge over 1% due to safe-haven demand amid US trade tariff threats.

From Investing.com: 2025-01-31 02:15:00

Gold prices reached a new all-time high, increasing by over 1% as safe-haven demand surged due to US trade tariff threats. President Trump plans to go ahead with a 25% import tariff on Canada and Mexico, with a 10% duty on Chinese goods, potentially destabilizing global trade. Investors turn to gold during economic uncertainty, inflation, or market volatility, seeking a safe-haven asset that retains its value. XAU/USD awaits US macroeconomic statistics, expecting a 0.2% monthly rise in the PCE Price Index, with key levels at $2,784 support and $2,810 resistance.

The euro weakened against the USD after the ECB cut interest rates and hinted at further easing to stimulate economic activity amidst sluggish growth and a potential recession. Eurozone GDP growth remained stagnant in Q4, influenced by Germany’s two-year contraction. With the ECB expected to continue easing, EUR/USD remains bearish, especially with US trade tariff threats. Today focuses on German and US macroeconomic statistics, with key levels at 1.03610 support and 1.04100 resistance.

Bitcoin price rose as the ECB’s less restrictive monetary policy and US trade tariff threats increased interest in alternative assets. ECB President Lagarde clarified that the central bank won’t consider using Bitcoin in its reserves due to volatility and security concerns. Meanwhile, other countries like the Czech Republic and Norges Bank are exploring Bitcoin investments, and the SEC is considering Bitwise’s proposed Bitcoin ETF. BTC/USD awaits the US PCE Price Index report, with key levels at $106,400 resistance and $104,000 support.



Read more at Investing.com: Gold Prices Surge Amid Uncertainty Over Looming Tariff Deadline