Gold Consolidates After Record Run, Set for Eighth Weekly Gain
Gold prices have surged for the eighth week in a row, despite falling on Friday, as safe-haven demand remains strong amid concerns about U.S. President Donald Trump's tariff plans and lingering uncertainties surrounding global economic growth. The non-stop rally since December has been unchallenged unless prices drop to around $2,850, according to analysts. Gold prices have shattered two record highs this week to trade above $2,950/oz, driven by investor appetite for bullion.
- The resilience of gold prices amidst rising inflation and global economic uncertainty suggests a potential shift in investor sentiment towards safe-haven assets.
- What implications will the ongoing strength of gold prices have on central banks' monetary policy decisions and the broader economy?