Gold pulled back 0.5% to $3,030.81 on Friday as investors took profits after three straight record highs. The retreat was partly due to a stronger U.S. dollar (up 0.2%), which made gold more expensive for foreign buyers. U.S. gold futures also dipped 0.2% to $3,037.70.
Despite this decline, gold remains on track for its third weekly gain, rising 1.6% this week and hitting an all-time high of $3,057.21 on Thursday. Exinity Group’s chief analyst Han Tan called this a “healthy pullback” after gold broke above $3,000. Analysts remain optimistic about gold’s future, expecting the uptrend to continue amid market uncertainty, especially as the April 2 deadline for new U.S. tariffs approaches. Gold continues to attract safe-haven buying due to trade war fears and anticipated Fed rate cuts later this year. Meanwhile, other precious metals—silver, platinum, and palladium—are facing weekly losses.