Gold prices have reached new record highs, recently rising above $3,300 per ounce, as investors seek safe-haven assets during rising global tensions. The latest trigger is the U.S. announcement of increased tariffs on Chinese goods—some as high as 145%. This has shaken investor confidence, not only in global trade but also in the U.S. dollar and Treasury bonds.
Many investors are turning to gold as a safer store of value. Additionally, Goldman Sachs raised its year-end gold forecast to $3,700 per ounce, citing strong demand from central banks and growing fears of a global economic slowdown. However, short-term profit-taking may lead to temporary pullbacks if any progress is seen in U.S.-China negotiations.
Despite the high price level, the outlook remains positive while uncertainty continues to weigh on global markets.
Expected Range for XAU/USD: 3,275 – 3,375
Note: This information does not guarantee profits. Please make your own decisions when trading.