Gold

Gold futures experienced a volatile trading session today, initially surging to a new all-time high before retreating on profit-taking, only to recover much of those losses by the close of trading.

Gold prices climbed to unprecedented heights Wednesday, closing at a record $3,047.14 after the Federal Reserve concluded its March Federal Open Market Committee (FOMC) meeting with a decision to maintain current interest rates.

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In a significant development for precious metals markets, both gold futures and spot gold have surpassed the landmark $3,000 per troy ounce threshold. As of 5:20 PM ET, the most active April gold futures contract settled at $3,010.10, reflecting a daily gain of $13.90 or 0.46%. Simultaneously, physical gold reached $3,001.13, advancing by $16.22 or 0.54%.

Gold futures closed above $3,000 per troy ounce for the first time in history, marking an unprecedented milestone in the precious metals market. This historic breakthrough comes amid escalating global trade tensions and geopolitical uncertainties that have created what analysts describe as a "perfect storm" for gold prices.

For the first time in history, gold futures have crossed the elusive $3,000 per ounce threshold. This remarkable achievement follows a dramatic price surge from just below $2,700 per ounce at the beginning of this year. As of 4:15 PM ET, gold futures for the most active April contract are fixed at $3,001.30, representing today's impressive gain of $57.90 (1.97%).

Gold prices climbed today driven by safe-haven buying as President Trump's 25% tariffs on steel and aluminum took effect. The precious metal advanced despite February's Consumer Price Index showing inflation rising less than expected at the slowest pace in four months. April gold futures increased by $20.60 (0.70%) to close at $2,943.40, marking the second significant daily gain this week.

Gold futures climbed significantly Tuesday as investors sought shelter from market uncertainty triggered by President Trump's expanding tariff policies. The precious metal rose $23.60 (0.81%) to $2,923.10 for the most active April contract as of 3:55 PM EST.

Gold prices edged lower at week's start alongside broader declines in risk assets. Gold futures declined $14.70 (0.5%) to settle at $2,899.40, just below the psychologically important $3,000 threshold. This pullback coincided with the Dow Jones Industrial Average tumbling to its lowest point since November 4, 2023, closing over 2% down for the session.

Gold futures closed lower on the day down $2.10 (-0.07%) but still managed to eke out a gain on the week (+$50.40 1.76%) due to Monday’s and Tuesday’s massive safe-haven demand. Safe haven buying came into the market as a reaction to Tuesday’s steep tariffs implemented on America’s three biggest trading partners Mexico, Canada, and China.