Gold prices remained firm on Wednesday after reaching an all-time high in the previous trading session. As investors anticipate more details on President Trump’s upcoming tariff plans, gold maintains its status as a safe haven.

Consistent Gains in Precious Metals

• Spot Gold:
  Saw gains of 0.3%, priced at $3,119.26 per ounce by 1205 GMT, marking an increase of over $400 since Trump’s inauguration in January. Gold reached a peak of $3,148.88 on Tuesday.

• Gold Futures:
  June futures climbed by 0.3% to $3,155.80 per ounce.

Gold has experienced consecutive record highs over the past four sessions, demonstrating its appeal amidst growing economic and geopolitical uncertainties.

Tariff Anxiety Driving Caution

Investors exercise caution as they await President Trump’s tariff announcements. Analysts predict these measures, expected at a White House event at 2000 GMT, could decelerate economic growth and catalyze trade disagreements. Many experts warn that upcoming tariffs may lead markets to brace for stagflation or recession.

As Han Tan, chief market analyst at Exinity Group, remarked, “The precious metal might reach another record high if tariffs prompt market concerns about economic slowdowns.”

Broader Economic Signals

The market is also observing upcoming key economic data:

• ADP Employment Report:
  Scheduled for release later today.

• Non-Farm Payrolls:
  Due for publication on Friday, which will offer further insight into the Federal Reserve’s next moves.

Amid these uncertainties, gold stands out as a safe haven with prices bolstered by a weakening U.S. dollar.

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