Gold prices hit $3,000 but dropped, fueled by trade war fears

From Investing.com: 2025-03-17 04:43:00

Gold prices surged past $3,000 but failed to hold above it, ending the day down by 0.11%. Investors flock to gold as a safe haven amid geopolitical uncertainty and trade volatility. Central banks, including China, are increasing gold reserves. Expectations of a Fed interest rate cut in June also boost gold prices. Analysts predict a possible retest of $3,002 resistance. Goldman Sachs sees upside risk to its $3,100 forecast.

The euro rose against the dollar as US consumer sentiment hit a 2.5-year low. The Fed may cut interest rates due to low consumer confidence and rising inflation expectations. German fiscal reform boosts euro. EUR/USD stable, focus on trade talks and US Retail Sales report.

The British pound fell after disappointing UK GDP data showing a 0.1% contraction in January. Investors expect rate cuts from Bank of England like the Fed. GBP/USD rises, watch for global trade news and US Retail Sales report.



Read more at Investing.com: Gold’s Rally Hits $3,000 but Struggles to Hold as Trade War Fears Loom