Gold prices rose during today’s trading in Asian markets, with spot prices increasing by 0.3% to $2,727.39 per ounce, while February gold futures gained 0.4% to $2,743.57 per ounce. This rise was driven by the weakening of the US dollar, which fell by more than 1% during today’s trading.
Gold continues to hold its position as a safe-haven asset amidst political and economic uncertainty surrounding US policies following President Donald Trump’s second term. With potential announcements of new economic and trade policies, investors anticipate increased market volatility, pushing them toward safe-haven assets like gold, which has reached its highest levels in a month.
On the US dollar front, its temporary weakness contributed to higher gold prices, making the metal more affordable for investors using other currencies. However, Trump’s commitment to imposing new tariffs on neighboring countries and China could strengthen the dollar in the medium term, potentially putting downward pressure on gold prices.
Other metals showed mixed performance, with platinum futures down by 0.4% and silver futures up by 0.6%. Copper faced selling pressure due to concerns over US tariffs and their potential impact on global demand, particularly from China. Overall, global markets are closely monitoring upcoming US policy moves and their influence on metal prices.
