Gold prices hit all-time high due to global trade tensions, with forecast to reach $3,300

From Investing.com: 2025-03-28 03:24:00

Gold prices hit a new all-time high as investors turn to the safe-haven asset amidst escalating global trade tensions triggered by US President Trump’s auto tariffs. Canada and France threaten retaliation. Goldman Sachs raises gold price forecast to $3,300 by 2025 due to strong ETF inflows and central bank demand. XAU/USD continues bullish trend, targeting $3,096 and $3,114.

Euro gains against USD on technical rebound but faces bearish pressure from US trade tariffs uncertainty. Eurozone equity indices drop, impacting automakers. Market cautious ahead of Trump’s tariff announcement. EUR/USD under bearish pressure due to eurozone struggles with energy costs and potential trade tariffs. Market expects ECB rate cut to 2% by 2025.

Bitcoin price declines by 1.2% as it tracks equity indices. US tariffs on imported cars trigger fall in US stock indexes. Bitcoin’s negative correlation with gold shows it does not always act as a safe-haven asset. BTC/USD falls during Asian and European sessions. Prepare for volatility as Bitcoin options contracts expire today. US PCE Price Index report due at 12:30 p.m. UTC may impact future US interest rates.



Read more at Investing.com: Gold Prices Soar Amid Trump’s Auto Tariffs and Global Trade Tensions