Weekly Market Update - Tariffs Take Effect

Gold prices are once again primed to test their all-time high of USD $2,956 per ounce. Gold has rebounded nearly 3% in the past two days as a weaker dollar and strong safe-haven demand has pushed prices higher, particularly amid concerns over President Donald Trump’s tariffs on imports from Canada, Mexico and China, which take effect today. Stock markets are reeling and gold is up.

Analysts remain bullish on gold, with projections suggesting that prices could surpass $3,100 per ounce in 2025, supported by ongoing macroeconomic and geopolitical uncertainties. Financial strategists also advise investors to “de-risk” their portfolios by increasing holdings in cash and gold, mirroring Warren Buffett’s cautious approach to the current market environment. With inflation concerns persisting and central banks accumulating gold, the precious metal remains a focal point for those seeking stability. 

While short-term price volatility is expected, gold’s long-term outlook remains strong, driven by economic uncertainty, central bank policies, and investor sentiment. As geopolitical tensions and trade policies evolve, gold’s role as a safe-haven asset will likely remain central to global investment strategies, with prices responding to shifting market conditions in the weeks ahead.