21.04.202501:36:50UTC+00Gold Hits Record High

Gold soared by over 1% on Monday, surpassing $3,370 per ounce to establish a new record high. This increase was driven by a surge in safe-haven demand amidst escalating global trade tensions and a weakening U.S. dollar. The previous week saw President Donald Trump initiate an investigation into potential new tariffs on all U.S. critical mineral imports, marking a significant intensification in the trade conflict with international partners, notably China. Concurrently, the U.S. dollar plummeted to a three-year low, bolstering gold's appeal to investors holding other currencies. Moreover, the European Central Bank's recent decision to cut interest rates has further enhanced the attractiveness of gold in a low-yield environment. Additionally, on Friday, White House economic adviser Kevin Hassett mentioned that the Trump administration was still considering whether to dismiss Federal Reserve Chair Jerome Powell, highlighting the ongoing deliberation of this consequential action that could impact the central bank’s autonomy and global markets.