The price of gold is progressing uncompromising, and attention is heading to $ 3000 per ounce

The gold price continued its record height yesterday, Monday, exceeding the level of $ 2900 an ounce or an ounce, for the first time historically, in a great amazing rise in a short period, as the threats of the new US President Donald Trump pushed customs duties to demand safe haven and pushed it to rise, according to the Maining Minerals platform. .

The price of gold is above $ 2900

The price of instant gold reached $ 2902.16 an ounce, an increase of 1.4% during the session. Gold rose after earlier reached the highest level ever at $ 2911.18 an ounce.
Gold futures in the United States also increased by 1.4% at $ 2929.60 an ounce in New York.

Why did the price of gold rose?

This significant increase comes after Trump announced the imposition of additional customs duties by 25% on all imports of steel and aluminum, as well as plans to impose customs duties later this week.
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About this, an analyst at Maricks Edward Mayer said: “It is clear that the tariff war is behind this rise, as it reflects more uncertainty and more tension in the global commercial situation.”
Customs duties may exacerbate inflation within the United States, as investors are currently waiting for the consumer price index data and the product price index to be released later in the week.

Inflation and gold data

Mayer said that if the inflation data comes as a surprise on the negative side, this may affect the dollar and raise the prices of gold, while any positive surprise may drive American returns to rise and pressure gold, although this is slightly due to the flexibility of the market and the interest of buyers in gold during the periods of decline.

Standard successive prices in gold

In a ritual rise, the seventh time of Monday represents a new record in 2025.
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According to analysts, according to that, gold has increased to now by about 11% this year after it has already recorded amazing gains of 27% in 2024.

Gold is heading about 3000 dollars an ounce

Analysts believe that gold is now gaining sufficient momentum to reach the level of $ 3000, as it is expected that the escalation of the trade war is expected to pushing the demand for safe assets to rise more.
Independent analyst Ross Norman said: “Gold is clearly targeting the level of $ 3000 an ounce, but the question now is about: Whenever the metal will exceed this level and not whether it will reach it or not.”
He continued: “We must expect to see a price correction when reaping profits, which seems to be an unprecedented perspective of the continuation of the upscale situation.”

Gold contracts movements

Meanwhile, anxiety about customs tariffs led to an unusually high gold insurance premium, which led to the withdrawal of large amounts of alloys from England.
Central banks also play a major role, as gold purchasing operations accelerated by 54% on an annual basis in the last quarter of 2024 when Trump won the US elections according to the World Gold Council.