Gold Climbs as Investors Fret Over the Global Economic Outlook
Gold climbed — building on a weekly advance — as rising concerns about the global economic outlook fanned haven demand.
Bullion for immediate delivery rose toward $2,915 an ounce, after gaining almost 2% last week. In the US, President Donald Trump said the economy faced “a period of transition” as he pressed on with his focus on tariffs and federal job cuts. In China, data pointed to persistent deflationary pressures.
The precious metal has surged in the opening quarter of 2025, hitting successive records and gaining every week apart from one. The rally has been driven by investor anxiety about the disruption caused by the Trump administration’s trade policies, signs of sustained central-bank buying, and speculation the Federal Reserve may cut interest rates further.
Fed Chair Jerome Powell acknowledged rising economic uncertainties in the US but said officials don’t need to rush to adjust policy, according to remarks on Friday. Lower borrowing costs tend to benefit gold as it doesn’t pay interest.
Spot gold was 0.2% higher at $2,914.68 an ounce at 8:39 a.m. in Singapore, 11% higher this year. Its latest record was set at just above $2,956 last month. The Bloomberg Dollar Spot Index fell 0.1%, following its deepest weekly loss since 2022. Silver rose, platinum was flat, and palladium fell.
Source: Bloomberg
