Gold surges past $3,100 as US tariffs, uncertainty propel safe-haven flows

Anushree Mukherjee

Sun, Mar 30, 2025, 7:36 PM 2 min read

By Anushree Mukherjee

(Reuters) - Gold touched an all-time precocious connected Monday, breaching the $3,100 level, arsenic investors turned to the safe-haven plus amid concerns that U.S. President Donald Trump's tariff plans would stoke a planetary commercialized warfare and economical fallout.

Spot golden was up 0.6% to $3,103.63 an ounce, arsenic of 0255 GMT, aft hitting a grounds precocious of $3,107.26 earlier. Bullion is up implicit 8% successful March.

The dollar scale eased 0.2%, making dollar-priced golden little costly for buyers holding different currencies.

"Markets anxiousness levels person been ramping up up of the reciprocal U.S. tariff announcements, which is keeping golden successful precocious request arsenic a antiaircraft play," KCM Trade main marketplace analyst, Tim Waterer said.

"If the tariff announcements this week are not arsenic terrible arsenic feared, past the golden terms could commencement to backtrack arsenic profit-taking from the highs whitethorn beryllium triggered."

Trump is expected to denote reciprocal tariffs connected April 2, portion car tariffs volition commence connected April 3.

Further widening the planetary commercialized warfare concerns, Trump said connected Sunday helium was "pissed off" astatine Russian President Vladimir Putin and volition enforce secondary tariffs of 25% to 50% connected buyers of Russian lipid if helium feels Moscow is blocking his efforts to extremity the warfare successful Ukraine.

Gold, traditionally seen arsenic a hedge against governmental and economical uncertainty, has risen implicit 18% this year. Bullion's rally has prompted aggregate banks to summation their 2025 golden terms forecasts.

Meanwhile, San Francisco Federal Reserve Bank President Mary Daly said ostentation information published connected Friday confirms her decreased assurance successful her baseline anticipation that 2 involvement complaint cuts this twelvemonth are a "reasonable" projection.

Spot metallic roseate 0.4% to $34.23 an ounce, platinum was dependable astatine $983.51 and palladium gained 0.4% to $975.70. All 3 metals are acceptable for a monthly rise.

(Reporting by Anushree Mukherjee successful Bengaluru; Editing by Eileen Soreng and Rashmi Aich)