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Gold Futures Climb to New High on Tariff Worries and Uptick in Key Inflation Measure
US Morning News Call | Trump Warns Automakers Against Price Hikes After New Tariff
Express News | Spot Gold Hits Record High at $3,060.37/Oz
The futures market surged 1.6% during trading, breaking through the 3100 dollar mark, with Goldman Sachs and Bank of America both raising their Target Prices.
The New York gold futures have strongly broken through the $3100 mark, setting a new historical high. Goldman Sachs has raised its gold price target to $3300, while Bank of America is more aggressive, believing that if Global gold investment demand increases by 10% year-on-year, the gold price could rise to $3500 within 18 months.
International gold prices skyrocketed to a new high! Trump's tariffs triggered a rush for safe-haven assets, and Goldman Sachs stated that prices will rise further.
① Spot gold prices and Gold Futures prices have both reached new highs. Spot gold surged to $3059.63, while New York Gold Futures for the main contract temporarily broke the $3100 mark; ② The USA President Trump announced new tariffs on Autos, leading to escalated tensions in Global trade, causing investors to seek safe-haven Assets.
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