Gold prices soar as US‑China trade tensions escalate
Gold prices are rising due to mutual accusations between the US and China of violating the trade agreement, as well as tensions in Ukraine. Investors are seeking safe assets, which is driving up the value of the precious metal.
The price of gold rose on Monday due to increased demand for safe assets amid global tensions. Investors are concerned about the potential resumption of a trade war between the US and China, prompting them to consider investing in gold.
An additional factor contributing to the rise in gold prices is the situation in Ukraine. Drone attacks on Russian airfields and massive raids by Moscow on Kyiv increase market uncertainty. In this context, gold gains value as a stable investment.
The increase in gold prices is also linked to US decisions regarding tariffs on steel and aluminum. President Trump's doubling of tariffs weakened the dollar, making gold more attractive to foreign investors. Analysts from Goldman Sachs emphasize that gold remains an effective hedge against inflation.
Gold hits record highs
Gold prices reached a new record level in April, exceeding $3,385 per ounce.
Analysts at Goldman Sachs predict that the price of gold may reach $4,000 per ounce by the middle of 2026.
Central banks, including the NBP, are also investing in gold.
