Gold prices hit all-time high above $3,000 amid economic uncertainty, with potential further gains.

From Investing.com: 2025-03-18 03:01:00

Gold prices hit a new all-time high above $3,000 as investors flock to the safe-haven asset amid economic uncertainty. Analysts predict further gains if global trade tariffs escalate or if there are Fed policy shifts. Gold remains a popular hedge in times of geopolitical and economic turmoil, thriving in a low-interest environment. The precious metal may consolidate ahead of the Fed’s decision this week, with potential declines if progress is made in Russia-Ukraine peace talks.

The Euro gained against the US dollar as lower-than-expected US retail sales data weakened the greenback. Concerns over trade tariffs and federal job cuts are dampening consumer spending, potentially leading to weaker US economic growth. The reassessment of Trump’s economic policies has shifted currency markets, with the euro gaining 6% against the dollar since mid-January. EUR/USD remains steady, with traders awaiting the German Zew Economic Sentiment report for potential market volatility.

The Canadian dollar strengthened against the US dollar as concerns over a possible US recession weakened the greenback. Investors are selling USD amid economic uncertainties stemming from Trump’s policies, including trade tariffs. The market is pricing in potential rate cuts by both the Fed and the Bank of Canada, with USD/CAD showing signs of bearish momentum. Traders are watching for Canadian inflation data today, which could push the pair below 1.42400 on higher-than-expected figures.



Read more at Investing.com: Gold: Bullish Run Continues Amid Tariff Fears and Recession Risks