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Gold Finally Breaks the $3,000 per Ounce Level for the First Time in History

By Mohamed Nabawy
14 Mar,2025
Gold Finally Breaks the $3,000 per Ounce Level for the First Time in History

- Gold hit an all-time high of $3,004 on Friday before pulling back below $3,000, yet it still records a weekly gain of over 2.5% so far.

- The additional inflow and increased demand for bullion came after U.S. President Donald Trump responded to the European Union's retaliatory tariffs by announcing that he would impose 200% tariffs on products coming from the region.

- This announcement raised concerns among market traders, leading them to believe that all previous expectations had become uncertain and that President Trump would not back down or soften his stance on tariffs, further escalating fears regarding economic growth and demand for risk assets.

- Meanwhile, U.S. bond yields hit a five-day high on Thursday before retreating.

- Bloomberg reported that President Donald Trump’s aggressive tariff agenda has raised concerns about its potential impact on economic growth, hurting demand for risk assets and driving investment into gold-backed funds.

- Gold holdings remain about 20% below their peak in 2020, indicating significant room for further inflows into the precious metal.

- Regarding U.S. monetary policy, the CME FedWatch tool shows a 97.0% probability of no interest rate changes in the upcoming Federal Reserve meeting on March 19, while the likelihood of a rate cut in the May 7 meeting currently stands at 30.3%.

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