Gold prices edged higher this week, positioning the precious metal for a solid weekly gain as rising concerns over trade tensions reignited its appeal as a safe haven. The potential imposition of fresh tariffs has shaken global market confidence, driving investors toward assets considered less vulnerable to geopolitical turmoil.
Analysts noted increased demand for gold as fears over economic disruption from escalating tariffs resurfaced. Spot gold remained steady, trading near its highest level in weeks, while gold futures showed a similar upward trajectory. The shift reflects investor uncertainty over the potential ripple effects on global trade and economic growth, with markets bracing for further developments.
The rally underscores the persistent role of gold as a hedge against instability, drawing support from renewed geopolitical risks and cautious sentiment among traders.
