Gold investors 'hold their breath' waiting for Mr. Trump's move

Spot gold rose 0.6% to $3,103.63 an ounce in today's trading session (March 31), after hitting a record high of $3,107.26 an ounce earlier. Bullion has risen more than 8% in March.

The dollar index (.DXY) fell 0.2%, making dollar-denominated gold cheaper for buyers holding other currencies.

"The market is increasingly nervous about the announcement of retaliatory tariffs from the US, which has made gold a highly defensive asset. If this week's tariff announcement is not too serious, gold prices will fall due to massive profit-taking," said Tim Waterer, chief market analyst at KCM Trade.

Gold prices continue to hit new records.

Mr. Trump is expected to announce the reciprocal tariffs on April 2, the auto tariffs will take effect on April 3.

Concerns about a global trade war continued to grow as the US president angrily told Russian President Vladimir Putin that he would impose additional tariffs of 25-50% on buyers of Russian oil if he felt Moscow was obstructing efforts to end the war in Ukraine.

Gold, seen as a hedge against political and economic uncertainty, has risen more than 18% this year. The bullion’s rally has prompted several banks to raise their price forecasts for this year.

Spot silver rose 0.4% to $34.23 an ounce, platinum was steady at $983.51 and palladium rose 0.4% to $975.70. All three metals were on track for monthly gains.

In the fuel market, Brent crude for June delivery fell 30 cents, or 0.4%, to $72.46 a barrel. U.S. West Texas Intermediate crude fell 33 cents, or 0.5%, to $69.03 a barrel.

Oil prices fell on Wednesday, heading for a quarterly loss on concerns about global trade tensions, with Trump threatening to impose a 25-50% tariff on buyers of Russian oil.

According to Trach Duong (TPO)

Source: https://baogialai.com.vn/nha-dau-tu-vang-nin-tho-cho-dong-thai-cua-ong-trump-post316969.html