Gold prices soared to an unprecedented high on January 31, 2025, with spot gold reaching $2,799.71 per ounce before stabilizing at $2,793.84. The surge is linked to investor anxiety following President Donald Trump’s declaration of a 25% tariff on imports from Mexico and Canada. As geopolitical tensions rise, gold’s appeal as a safe-haven asset strengthens. Market watchers are also awaiting the U.S. personal consumption expenditures report for clues on interest rate trends, which could further impact gold’s trajectory. U.S. gold futures edged higher, while other precious metals exhibited mixed performances. Experts believe that ongoing tariff uncertainties may propel gold prices beyond $2,800 per ounce.
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- January 31, 2025
- commodities, news
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