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Gold Prices Hold Near Record Highs Amid U.S. Economic Worries and Tariff Uncertainty

Gold Prices Hold Near Record Highs Amid U.S. Economic Worries and Tariff Uncertainty. Source: Photo by Pixabay

Gold prices remained steady on Monday, hovering near recent record highs as safe-haven demand surged due to concerns over a U.S. economic slowdown and escalating trade tensions. Spot gold edged up 0.1% to $2,940.18 an ounce, while April gold futures held at $2,952.97 an ounce.

Last week, the precious metal hit an all-time high of $2,954.97 an ounce, driven by market uncertainty following weak U.S. economic data and President Donald Trump’s renewed tariff threats. Sluggish services PMI and consumer sentiment reports raised fears of slowing private spending, adding to worries sparked by lower-than-expected January retail sales.

A weakening U.S. dollar further supported gold’s rally. The dollar index slipped 0.3% to a 2.5-month low, while Treasury yields declined, fueling expectations of more interest rate cuts. This also impacted other metals, with platinum futures rising 0.6% to $994.0 an ounce, while silver remained flat at $32.998 an ounce.

Industrial metals saw mixed movement. London Metal Exchange copper futures fell 0.2% to $9,535.95 per ton, while March copper futures steadied at $4.6170 per pound. Copper has surged in recent weeks, supported by optimism over China’s economic outlook.

With ongoing inflation concerns, trade policy uncertainty, and economic headwinds, investors continue to seek gold as a hedge against volatility, keeping the metal near its historic highs.

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