Gold prices near record high amid Trump's statements on tariff suspension
Gold prices continue to rise in response to uncertainty in U.S. trade policy and a weakening dollar, with analysts predicting a new all-time high.
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Gold prices showed moderate growth on the morning of Monday, April 14, remaining close to all-time highs amid growing uncertainty in U.S. trade policy, reports Interfax-Ukraine.
According to Comex, June futures for the precious metal rose by 0.1% to $3247.1 per troy ounce. During trading, the price briefly exceeded $3260, setting a new record. On the spot market, quotes reached $3244 per ounce.
The strengthening of gold was driven by new statements from former U.S. President Donald Trump.
The politician promised to soon announce tariffs on semiconductor imports, emphasizing his desire to bring the production of microchips and other high-tech goods back to the United States.
He also announced plans to introduce restrictions on pharmaceutical imports. Meanwhile, media reported the repeal of some existing tariffs on electronics.
Against this backdrop, the DXY dollar index fell by 0.7% in the morning, continuing its decline for the fifth consecutive session. Over the past week, the index lost 3.6%, boosting gold’s appeal to investors operating in other currencies.
Meanwhile, Goldman Sachs analysts revised their year-end 2025 forecast, raising the expected gold price to $3700 per ounce from the previous $3300.
According to their estimates, demand from central banks will exceed expectations—up to 80 tons per month. In the event of a recession in the U.S., the price may reach $3880, and by 2026—$4000 per ounce.
Earlier reports indicated that amid escalating trade tensions following new U.S. tariffs, investors are increasingly turning to gold as a safe-haven asset, fearing rising inflation and an economic slowdown.