Gold hits fresh record amid trade risks

14 Ekim 2025

Gold Hits Fresh Record Amid Trade Risks and Fed Rate Cut Expectations

Today’s markets analysis on behalf of Frank Walbaum Market Analyst at Naga

Gold surged past USD 4,190 per ounce on Tuesday to a new all-time high before retreating slightly as investors locked in profits following the latest rally. The metal remained in positive territory, buoyed by safe-haven demand amid escalating US-China trade frictions and growing expectations of further Federal Reserve rate cuts.

Persistent risks continue to support gold’s appeal. President Donald Trump’s tariff threats and Beijing’s retaliatory sanctions against US-linked entities intensified market unease. In addition, Treasury Secretary Scott Bessent warned that the ongoing US government shutdown was beginning to weigh on economic activity, adding another layer of uncertainty.

Investors are now focused on Fed Chair Jerome Powell’s speech later today for fresh clues on monetary policy. Markets are pricing in near-certainty of 25-basis-point rate cuts in both October and December, supported by Fed officials who have cited rising risks to the labour market.

Geopolitical risks remained a potential moving factor for gold. Tensions in Eastern Europe remain elevated. However, progress in the Middle East could reduce demand for gold to a certain extent.

 

Zaid Barem / ymm