- Gold prices saw little change during the Asian trading session on Wednesday after pulling back from recent record highs, despite continued strong demand for the yellow metal as a safe haven amid uncertainty over U.S. tariffs and slowing economic growth.

- Gold faced some profit-taking after surging to record levels over the past month, as Trump’s tariff threats and concerns about a slowing U.S. economy boosted demand for safe-haven assets, particularly gold.

- Metal prices also benefited from a weaker dollar, as weak U.S. economic data increased expectations of further interest rate cuts by the Federal Reserve.

- Spot gold remained steady at $2,916.06 per ounce, while gold futures for April delivery rose 0.4% to $2,929.74 per ounce. Spot prices had previously reached a record high of $2,956.37 per ounce earlier this month, with markets now eyeing the $3,000 per ounce level as the next key milestone.

- Broader metal prices rose on Wednesday, supported by a weaker dollar, as soft economic data weighed on the U.S. currency. The dollar index fell to a near three-month low following weaker-than-expected consumer confidence data for February, raising concerns about a decline in private consumption, a key driver of the economy.

- Platinum futures fell 0.2% to $976.30 per ounce, while silver futures surged 1% to $32.158 per ounce.

- The focus is now on U.S. fourth-quarter GDP data and the Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge. Both indicators are set to be released later this week.
-------------------------------------
For more articles click here