100 Days In: Trump’s ‘Strategic Uncertainty’ on Tariffs Leaves Markets Guessing

Gold has maintained its bullish momentum throughout early 2025, marking eight straight weeks of gains—the strongest streak since 2020’s nine-week rally. After reaching a new all-time high near $2,956, the metal faced selling pressure but remains firmly in bull territory. Market analysts believe the $3,000 psychological barrier will likely be tested soon, though it may struggle to maintain that level initially. This impressive rally coincides with a weaker US dollar and persistent risk aversion stemming from uncertainty around US trade and tariff policies, particularly regarding Canada and Mexico. Investors are also closely monitoring upcoming economic indicators, including the Q4 2024

The Global Precious Metals Index surged 7.36% last month as metals reacted differently to changing economic conditions. Gold stole the spotlight by reaching a record high of $2,942.70 per ounce before pulling back in mid-February. Analysts attribute this historic performance to economic uncertainty, geopolitical tensions, and aggressive central bank purchases, with expectations for continued growth throughout 2025. Silver has also impressed investors, rising to $32.80 per ounce by mid-February—its highest point since December 2024. The metal’s dual appeal as both an industrial material and safe-haven asset has boosted investor interest. Platinum prices have remained steady despite a strong dollar, with

Investors will be closely watching Friday’s release of the Federal Reserve’s preferred inflation measure, the “core” Personal Consumption Expenditures (PCE) index. Economists expect January’s annual core PCE to show a slight decrease to 2.6% from December’s 2.7%, while the monthly figure is projected to rise to 0.3% from 0.2%. Morgan Stanley’s chief US economist notes that if core PCE hits 2.6%, it would represent a “meaningful step down” in the 12-month inflation rate and support their prediction of a quarter-point rate cut in June.