Gold

Gold prices struggled to maintain momentum Wednesday despite the U.S. dollar falling to a four-month low, breaking the precious metal's pattern of gains seen earlier this week amid escalating global trade tensions.

Gold prices continued to gain value, moving higher in New York trading today, as market participants seek safety after president Donald Trump launched import tariffs against Canada and Mexico today launching a trade war against America’s largest and most important trading partners. 

Gold prices rallied sharply higher in New York trading today, recapturing Friday's losses and pushed beyond the $2,900 mark as the U.S. dollar faced significant pressure. The precious metal's gains come amid increasing safe-haven demand triggered by both economic concerns and escalating geopolitical tensions.

Gold markets experienced a week of historic volatility, setting a new all-time record before suffering substantial declines. The precious metal's eight-week winning streak came to an abrupt end amid dollar strength and shifting sentiment around potential tariffs.

Gold prices experienced a significant decline in New York trading on Thursday, with the most active April futures contract settling at $2,887.80, down $43.90 or 1.50%. The precious metal touched a two-day low of $2,879 before slightly recovering.

Gold futures appear to have stabilized following yesterday's $40 price decline, posting fractional gains and a higher intraday low today. Many market participants had questioned whether the sharp decline signaled the beginning of a correction after gold's remarkable run, which has seen prices surge approximately $375 (14.46%) since December 18's low of $2,599.60.

Gold prices have experienced a remarkable upward trajectory since mid-December, culminating in a record high before showing signs of a pullback. The precious metal surged from $2,599.60 on December 18 to an all-time high of $2,974 yesterday, representing a 14.46% gain ($375) in just over two months.

In what appears to be an extraordinary display of market resilience, gold prices are entering their ninth consecutive week of gains, consistently closing higher than their Monday opening bids. This remarkable performance has propelled the precious metal to unprecedented heights, with April gold futures closing at a record $2,953.20 last week after advancing $52.50 (1.81%).

Gold prices have marked their eighth consecutive week of gains, pushing the precious metal to unprecedented heights amid growing global uncertainties and robust central bank buying. The April gold futures contract settled at $2,950, securing a weekly advance of $56.30 or 1.95%, and briefly touching a new all-time intraday high of $2,973.40 on Thursday.

Gold continues to demonstrate remarkable strength in early 2025, trading near record levels while the U.S. dollar faces mounting pressure. The precious metal reached an unprecedented closing price of $2,957 per ounce on Thursday, February 13, marking a significant surge from its December position of $2,600.