Gold exceeds 3100 dollars for the first time with the demand for safe havens economy

Today, Monday, gold prices exceeded $ 3100 an ounce for the first time with a new wave of investments in the assets of safe haven due to concerns about American customs duties and potential economic slowdown, in addition to geopolitical concerns.

Gold recorded in immediate transactions a record increase, as it exceeded 3100 dollars in early transactions and continued to rise, as it reached $ 3118.2 an ounce until the writing of this report.

Gold prices recorded multiple records, and increased by more than 18% since the beginning of this year, taking advantage of its position as a way to hedge against economic and geopolitical turmoil.

Earlier this month, gold exceeded the level of $ 3,000 an ounce for the first time, an important achievement that experts say reflects the increasing concerns about economic instability, geopolitical tensions and inflation.

The rise in gold prices prompted many banks to increase their expectations for gold prices this year.

“At the present time, the gravity of gold has increased as a safe haven and hedge of inflation in light of these geopolitical and hazy concerns about customs duties,” said OSBC analysts.

“We are still optimistic about gold expectations in light of the continued global and fog commercial differences,” they added.

Gold -supporting factors

In a previous statement to Al -Jazeera Net, the CEO of Fortis Investment Company, Mustafa Fahmy, reviewed the reasons for the height of gold, according to the following:

• The fog that prints the future of the global and American economy specifically due to Trump’s decisions.
• Gold markets prejudice what Trump will announce on April 2.
• Gold markets deal with the state of global slowdown and stagnation that is expected to afflict the American economy.
• The state of displacement of dangerous assets such as digital currencies and others and heading towards investing in gold.
• Investors search for their savings from inflation that may occur due to the expected high prices for the future.

High expectations

Goldman Sachs and Bank of America and UBS raised their “targeted gold prices this month, as Goldman expected that the price of gold would reach 3300 dollars an ounce by the end of the year, up from $ 3100.

Bank of America expects gold to trade at $ 3063 an ounce in 2025 and 3350 dollars an ounce in 2026, up from its previous forecast of $ 2750 an ounce in 2025 and $ 2625 an ounce in 2026.

Since assuming his post, US President Donald Trump has offered plans to impose a series of new customs duties with the aim of protecting American industries and reducing the trade deficit, including customs duties by 25% on cars and imported auto parts, as well as an additional 10% fees on all imports from China.

It is intended to announce a new set of anti -customs duties on April 2.