Gold prices rise again amid weakening dollar and trade uncertainty
On Tuesday, gold prices continued to climb as the dollar weakened and uncertainty over U.S. tariffs increased interest in the metal as a safe-haven asset.
On Tuesday, April 15, June gold futures on the Comex exchange rose by 0.4%, reaching $3,239.5 per ounce, according to Interfax-Ukraine.
This continues the upward trend after closing at a historic high of $3,244.6 last Friday. Since the beginning of 2025, the precious metal has increased in value by more than 20%.
On the spot market, during the current session, gold was trading at $3,232 per ounce, approaching the record level of $3,245 recorded the day before.
The rise in prices was supported by a weakening U.S. dollar and uncertainty surrounding foreign trade tariffs.
Last week, U.S. authorities temporarily exempted several technology products — including computers, smartphones, and microchips — from new mirror tariffs.
However, President Donald Trump later stated that sectoral tariffs could still be introduced on those goods.
Commerzbank analysts note that in times of instability, investors tend to turn to gold as a safe-haven asset.
UBS believes that if current trends persist, gold prices could reach $3,500 per ounce by December.
It is worth noting that the European Commission may impose retaliatory restrictions on U.S. digital service exports if ongoing talks with Washington fail.