Gold is on a relentless climb, hitting yet another record as investors rushes toward the safe-haven metal amid escalating trade tensions. Spot gold soared to $3,074.43 an ounce, its eighteenth all-time high this year, while US gold futures settled at $3,114.30. With bullion reporting for a fourth straight weekly gain, the rally underscores deepening market jitters ahead of President Donald Trump’s April 2 tariff announcement. While the policy reveal might shed light on the scope of new trade barriers, few expect it to calm the uncertainty that has gripped global markets—leaving gold as one of the few clear winners in a storm of economic volatility.DataThe US consumer spending rose just 0.4% in February, falling short of expectations, while core inflation surged at its fastest pace in 13 months—raising concerns about downturn risks as trade tensions escalate. The University of Michigan's March survey amplified alarms, showing one-year inflation expectations spiking to 5.0%, the highest since November 2022, with five-year outlooks hitting 4.1%, a level not seen since February 1993. The price surge was broad-based: recreational goods, vehicles, clothing, and footwear all saw increases, while services costs jumped due to pricier housing, recreation, and financial services. With spending sluggish (downwardly revised to -0.3% in January) and inflation accelerating, the data paints a troubling picture of an economy caught between weak growth and stubborn price pressures—a combination that could complicate the Fed's policy path.
.png)
