Gold surged to a historic peak on Thursday
Key Drivers:
Trade Retaliation Risks: Canada, France, and other nations threatened countermeasures after Trump’s tariff announcement, set to take effect alongside reciprocal duties targeting trade-deficit partners.
Equity Market Turmoil: Global stocks slumped, with automaker shares plunging as tariffs rattled supply chain confidence (MKTS/GLOB).
Central Bank & ETF Demand: Sustained institutional buying and ETF inflows bolstered gold’s rally, per Phillip Streible of Blue Line Futures.
Market Sentiment:
Fed Policy Watch: Investors await Friday’s U.S. PCE data for clues on rate cuts after the Fed held rates steady. Gold thrives in low-rate environments as a hedge against economic uncertainty.
Goldman’s Bullish Outlook: The bank raised its **2025 gold forecast to
3300/oz, citing robust demand and geopolitical risks.