On January 31, 2025, gold achieved a historic milestone, with spot prices peaking at $2,799.71 per ounce before settling at $2,793.84. This historic rise is driven by escalating fears surrounding President Donald Trump’s imposition of a 25% tariff on imports from Mexico and Canada. In response to these developments, investors are increasingly turning to gold, reinforcing its status as a preferred safe-haven asset. Additionally, the forthcoming U.S. personal consumption expenditures report is anticipated by market participants for insights into potential interest rate adjustments, which may further influence gold’s valuation. U.S. gold futures experienced modest gains, while the performance of other precious metals like silver, palladium, and platinum varied. Analysts predict that persistent tariff-related apprehensions could drive gold prices above the $2,800 per ounce threshold.
Gold Reaches Historic High as Tariff Fears Intensify
