Gold Price News: Gold at record high of USD 3,059 – Tariffs and crises drive

The gold price opened on Thursday, March 27, 2025 at USD 3,019.34 and reached a new record high of USD 3,059.37 per troy ounce during trading. The daily low was USD 3,018.97. At the close of trading, gold was quoted at USD 3,056.84, a strong daily gain of 1.24% compared to the previous day. This once again confirms gold's strong upward trend of recent weeks and months.

Central bank monetary policy remains a key driver of the gold price. Fed Chairman Jerome Powell recently reiterated the possibility of interest rate cuts of up to 0.5 percentage points by the end of the year, which significantly increases the demand for gold. At the same time, the ECB has again cut key interest rates by 0.25% in the face of declining inflation and increasing economic risks. These expansive signals from central banks are giving the gold price an additional boost.

US President Donald Trump unexpectedly announced plans to impose comprehensive import tariffs of 25% on cars. This decision triggered considerable uncertainty in global markets, increased concerns about an escalation of the international trade conflict and fueled fears of rising inflation rates. Investors responded to this with increased purchases of gold as a safe investment, which contributed significantly to today's price increase.

The situation in the Middle East conflict has recently intensified significantly: after the renewed outbreak of violence between Israel and Hamas, there were fierce air strikes today, resulting in numerous deaths. This development significantly increases geopolitical risks and is driving investors to invest more in gold to hedge against possible economic consequences.

From a technical perspective, gold is still in a clear uptrend. The psychologically important support at USD 3,000 was defended recently. A possible setback could be intercepted at USD 2,982. On the upside, today's record high of USD 3,059 remains the first significant resistance level, which, if overcome, would make further price increases towards USD 3,080 possible. Technical indicators confirm the current bullish picture.

In the short term, the market outlook for gold remains optimistic. Many analysts expect the gold price to continue to rise due to the ongoing global crises and expansive monetary policy. Strategists at Zaner Metals see short-term potential of up to around USD 3,150. However, some analysts also warn of possible setbacks if, for example, tariffs turn out to be less drastic or inflation data surprisingly high. Overall, however, the basic attitude remains clearly bullish: price setbacks are seen as buying opportunities.