3/14/2025–|Last update: 3/14/202502:18 PM (Mecca time)
Gold in immediate transactions exceeded $ 3,000 an ounce (ounce), today, Friday, for the first time in history, taking advantage of a series of historical gains and its demand as a safe haven, amid escalating trade tension and expectations for reducing interest rates in the United States.
The price of gold in morning trading increased by approximately 3%, to $ 3000.9 an ounce, a day after it exceeded the record price registered in late February.
Support factors
The rise in gold at a time when US President Donald Trump threatened France and the European Union yesterday, Thursday, by imposing customs duties of 200% on champagne and wine, and other alcoholic beverages if the European Union does not abandon the upcoming customs definitions of 50% on the American whiskey.
The new chapters of the trade war on customs duties cause a decline in risk demand, and have prompted investors to the precious metal, which is a safe haven, according to analysts.
Gold also benefited from the uncertainty that prints the global geopolitical situation, in light of the continuation of the Russian -Ukrainian war.
The European Union, Canada and China announced measures in response to customs duties by 25% on steel and aluminum imports imposed by Trump and entered the implementation space on Wednesday.
Expectations at the price of an ounce at 3500 dollars
The Macquari Investment Group for Financial and Investment Services expected that the demand for safe haven will pay the price of the ounce of a record level at 3500 dollars during the third quarter.
Analysts led by Marcus Garvi, in a memo, said that the average price of alloys may reach 3150 dollars an ounce during that period, adding that the precious metal – which was trading at about $ 294.50 an ounce in the latest trading – will receive more support from concerns about the growing American budget deficit.
Last month, the Goldman Sachs Group expected the gold price by the end of the year to $ 3100 an ounce, while City Group expected earlier in February that prices would reach 3 thousand dollars an ounce within 3 months.
