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Indonesia News Portal for Traders | Financial & Business Updates

25 February 2025 10:58  |

Gold Hovers Near Record High

Gold fell below $2,950 per ounce on Tuesday but remained near an all-time high, buoyed by safe-have flows due to concerns over U.S. President Donald Trump's tariff policies.

Trump on Monday said that tariffs on Canadian and Mexican imports would proceed as planned, prompting markets to price in inflationary risks that could influence the Federal Reserve's monetary policy.

Also supporting the precious metal, SPDR Gold Trust, the world's largest gold-backed ETF, reported its holdings rose to 904.38 tonnes on Friday, the highest since August 2023. Meanwhile, investors will shift focus towards Friday’s PCE report, the Fed's preferred inflation gauge.

While the data is expected to show the slowest price growth since June, persistent inflationary pressures could keep the Fed cautious on rate cuts.

Source: Trading Economics

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