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Gold achieved another historic peak on Wednesday, capitalizing on a combination of dollar weakness and growing market uncertainty.
The precious metal’s surge occurred against a complex market landscape, where multiple factors contributed to increased volatility. Investors faced a mix of corporate earnings disappointments, particularly from tech giant Alphabet, and geopolitical uncertainty following President Trump’s unexpected comments about Gaza.
The market’s reaction was further complicated by recent trade policy developments, including the last-minute delay of tariffs on Canada and Mexico.
Despite some calm returning to markets, traders remained cautious about potential future trade tensions, particularly regarding China and Europe, with analysts noting that tariff-related concerns could resurface in 30 days when the current delay expires. This environment of policy uncertainty and market volatility continues to support gold’s appeal as a safe-haven asset.
