Gold’s price peaked at an impressive $2,942 earlier today, but it has since eased as market participants digest the latest set of US tariffs on steel and aluminum imports. This development has raised concerns about a potential escalation in the trade war, which could adversely impact the global economy.

As investors reconsider their positions, the supportive fundamentals surrounding gold suggest that any dips could remain limited. The precious metal’s allure as a safe-haven asset continues to resonate strongly with market participants amid rising inflation concerns.

Analysts are keeping a watchful eye on how forthcoming economic indicators will influence gold’s trajectory as traders look for clues in the evolving landscape.

Stay tuned as this narrative unfolds!