Gold prices surge nearly 2% due to trade tariff uncertainty and geopolitical instability, likely positive for gold.

From Investing.com: 2025-03-14 03:50:00

Gold prices surged by 1.9% on Thursday, nearing $3,000 per ounce, driven by trade tariff uncertainty and geopolitical instability. Trump’s threats of additional tariffs on European imports raised worries about global trade tensions, pushing equities and Treasury yields lower. The U.S. considering annexing Greenland added to geopolitical uncertainty, boosting gold’s appeal. Analysts forecast gold prices to reach $3,000-$3,200 this year, with strong ETF demand and central bank buying. XAUUSD may climb to $3,040 per ounce, with UoM Consumer Sentiment data potentially impacting further movements.

The euro weakened by 0.31% against the dollar as the greenback rebounded from multi-month lows. U.S. producer prices remained unchanged in February, supporting the dollar amidst tariff concerns. Germany’s fiscal plan boosted market confidence in eurozone growth. EURUSD remained steady, with potential volatility ahead from UoM Consumer Sentiment data and trade tariff news. Key levels to watch are resistance at 1.08920 and support at 1.08160.

Bitcoin dropped by over 3% on Thursday, following major U.S. stock indices lower in response to Trump’s tariff threats. Bitcoin’s correlation with U.S. equities intensified fears of a global recession due to the trade war. President Trump’s executive order establishing a Bitcoin Reserve and Digital Asset Stockpile did not include the hoped-for strategic Bitcoin purchases, impacting market sentiment. Bitcoin’s price recovery may be influenced by global trade tariff developments and the U.S. Consumer Sentiment report later today.



Read more at Investing.com: Gold Rockets on Trump’s Threats