Where Will the Russia-Ukraine Peace Deal Take Gold?
What is happening in the world of trade and the current geopolitical situation is still causing quite worrying turmoil in the global economy. Currently, all market players are still closely monitoring how strong the effects of the reciprocal tariffs that Trump will implement on April 2, 2025 will be on world trade.
Meanwhile, the US consumer confidence index fell to its lowest level in four years in March due to concerns over the escalating trade war and higher prices, triggering demand for safe haven assets.
There is no doubt that what is happening now until April 2 is still a strong supporting factor for the strengthening of gold, investors still believe that what Trump is doing now will push the price of gold to $ 3100 per troy ounce. So can the news of the imminent realization of Ukraine-Russia peace limit the increase in gold? If we refer to the price movements that have occurred after the peace issue was issued, the price correction in gold will likely only occur in the short term because in the long term the strongest fundamentals are still the ongoing global trade war issue.
Source : (mrv@Newsmaker)
