AsianFin -- Gold prices surged to a historic high above the $3,000 mark on Tuesday, marking the second time in a week, as investors sought refuge from economic uncertainties fueled by U.S. President Donald Trump's tariff policies.
Spot gold increased by 0.2% to $3,006.88 per ounce as of 0525 GMT, after reaching an all-time peak of $3,016.92 earlier in the session. This follows gold's first breach of the $3,000 milestone on Friday. Meanwhile, U.S. gold futures rose 0.4% to $3,017.20.
"Gold is climbing due to a weaker dollar and ongoing tariff uncertainties... With gold at record highs, technical and chart-based buying is accelerating, as there is no visible resistance on the charts," said Marex analyst Edward Meir.
The U.S. dollar index hovered near a four-month low, making gold more affordable for international buyers and further bolstering its appeal as a safe-haven asset.
Explore more exclusive insights at nextfin.ai.
