市場分析

Gold Up for Third Straight Week, Supported by Rate Cut Hopes and Geopolitical Instability

Amos Simanungkalit · 21 Mar682K 閱讀

Image Credit: Reuters

Gold was set to mark its third consecutive week of gains on Friday, following three record highs this week, supported by the Federal Reserve’s rate cut signals for the year and safe-haven demand driven by ongoing geopolitical and economic uncertainties.

Spot gold dipped 0.3% to $3,034.09 per ounce at 0235 GMT. It reached an all-time high of $3,057.21 on Thursday and has risen about 2% this week. U.S. gold futures remained steady at $3,042.60.

Kyle Rodda, a financial market analyst at Capital.com, noted that gold doesn't necessarily need a specific trigger to reach new record highs, as all the fundamental factors are in place for it to continue trending upward. He added that while a correction doesn't seem imminent, a brief pullback to the $3,000s for a "recharge" before continuing the uptrend is possible.

The Fed held its benchmark rate steady at 4.25%-4.50% as expected on Wednesday and signaled that two quarter-percentage-point cuts could occur by the end of the year. Fed Chair Jerome Powell attributed slower growth and temporarily higher inflation to U.S. President Donald Trump’s initial policies, including extensive import tariffs.

In other news, 91 Palestinians were killed in airstrikes across Gaza on Thursday after Israel resumed bombing and ground operations, effectively ending a two-month-old ceasefire.

A combination of tariff uncertainties, rate cut expectations, and escalating tensions in the Middle East has driven gold to impressive new heights this year, with the metal hitting 16 record highs, including four above the critical $3,000 mark. Gold, a non-yielding asset, benefits from a low-interest-rate environment, making it a safe-haven against geopolitical and economic turmoil.

Spot silver dropped 0.8% to $33.26 per ounce, platinum lost 0.2% to $983.10, and palladium declined 0.5% to $947.78, with all three metals on track for weekly losses.