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Gold prices on the rise to record highs

At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741

The US Dollar Index (DXY), which measures the performance of the Greenback against a basket of six peers and usually correlates inversely to Gold, rises 0.08%, up at 108.16.

Gold prices are set to challenge record high of $2,790 amid ongoing US trade policies uncertainty. 

Source – FXSTREET

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    Gold keeps reaching new highs

    Gold touched an all-time high on Monday, breaching the $3,100 level, as investors turned to the safe-haven asset amid concerns that U.S. President Donald Trump’s tariff plans would stoke a global trade war and economic fallout.

    Spot gold was up 0.6% to $3,103.63 an ounce, as of 0255 GMT, after hitting a record high of $3,107.26 earlier. Bullion is up over 8% in March.

    “Markets anxiety levels have been ramping up ahead of the reciprocal U.S. tariff announcements, which is keeping gold in high demand as a defensive play,” KCM Trade chief market analyst, Tim Waterer said.

    “If the tariff announcements this week are not as severe as feared, then the gold price could start to backtrack as profit-taking from the highs may be triggered.”

    Spot silver rose 0.4% to $34.23 an ounce, platinum was steady at $983.51 and palladium gained 0.4% to $975.70.

    Source – Reuters

  • South African Rand strong

    South Africa’s rand strengthened on Monday, as gold hit a fresh high and optimism grew over the prospect of an agreement between the two biggest government partners on the budget.

    At 0728 GMT, the rand traded at 18.2375 against the dollar, about 1.1% stronger than its previous close.

    Gold prices touched an all-time high on Monday as investors stressing over a global trade war and economic slowdown from the world’s biggest economy turned towards the safe-haven asset. South Africa is a major producer of the precious metal.

    Source – Reuters