Gold prices have surged to record highs, recently reaching $3,245.28 per ounce, as investors seek safe-haven assets amid escalating trade tensions between the U.S. and China. The introduction of sweeping tariffs—peaking at 145% for China—has led to reversals in equities, bonds, and commodities, prompting concerns over the reliability of U.S. Treasuries and the dollar as safe assets. Analysts from Goldman Sachs have raised their year-end gold price forecast to $3,700 per ounce, citing stronger-than-anticipated central bank demand and rising recession concerns. However, short-term volatility remains, with potential pullbacks if diplomatic compromises emerge.
Expected Range for XAU/USD: 3,205 – 3,335
Note: This information does not guarantee profits. Please make your own decisions when trading.