Gold continues its upward trend for the fourth consecutive day, supported by a combination of fundamental factors, most notably escalating trade concerns and geopolitical tensions, along with a decline in the US dollar and increasing bets on interest rate cuts by the Federal Reserve.
Gold hit a new one-month high in Monday's trading before pausing for breath, but the underlying support reinforces the likelihood of continued upward movement. Renewed trade war fears, coupled with escalating tensions in the Middle East, have boosted demand for gold as a safe haven.
Following a Supreme Court ruling against his previous sweeping tariffs, US President Donald Trump announced a new tariff framework, imposing a new 15% global tariff on imports into the United States—the maximum rate legally permitted. This decision raised concerns about retaliatory measures and potential negative economic impacts due to disruptions in global supply chains, dampening risk appetite and boosting demand for gold as a safe-haven asset.