Gold Price News: Gold reaches another all-time high of USD 3,087 – tariffs drive investors

On Friday, the gold price reached a new all-time high of USD 3,086.70. The closing price of USD 3,074.43 represents a daily gain of 0.6% over the previous day and marks the fourth consecutive weekly gain. Gold also traded strongly in euro terms at around 2,847 EUR per fine ounce.

US President Donald Trump took the markets by surprise on Friday by announcing comprehensive import tariffs of 25% on cars and car parts. Fears of a renewed escalation of the international trade dispute led to investors fleeing into safe havens, from which gold benefited significantly. The markets are now eagerly awaiting further details, which have been announced for April 2, 2025.

The interest rate signals of the US Federal Reserve continue to be important market drivers. Although the Fed left interest rates unchanged most recently, it signaled possible interest rate cuts until the end of the year. The expectation of a more expansionary monetary policy increases the attractiveness of the interest-free precious metal. In addition, the US dollar continued its downward trend, further favoring gold purchases for international investors.

The ongoing geopolitical uncertainties further contribute to the attractiveness of gold. In particular, the resurgence of fighting in the Middle East and the still unresolved conflict in Ukraine are driving investors into gold. The ongoing tensions between the US and China are also having a supportive effect.

From a chart-technical perspective, the picture remains clearly positive. The gold price is holding well above the important support level of USD 3,000. In the short term, the resistance at the current record high of around USD 3,087 is crucial. A sustainable break could open the way to the round mark of USD 3,100. The price will find support in the event of setbacks, initially at USD 3,000 and below that at USD 2,982.

The majority of analysts remain optimistic for the coming days. Due to the current geopolitical and economic situation, market observers expect gold to remain in high demand. The tariff situation in the US is being watched particularly closely. Analysts such as Bob Haberkorn (RJO Futures) see short-term potential of at least USD 3,100. At the same time, some market participants are warning of possible profit-taking if the geopolitical situation or trade conflicts ease. Overall, however, positive market sentiment prevails, which is why setbacks continue to be seen as buying opportunities.