Gold hits record high amid geopolitical worries; Lloyds Bank profits drop 20% –
Gold hits record high
The gold price has hit a new all time high today, putting the $3,000 per ounce level within sight.
Spot gold has gained 0.7% today to $2,954 per ounce, meaning it has risen by over 12% so far this year.
Goldd is benefitting from rising trade tensions stirred up by Donald Trump, and by recent signs that inflationary pressures are rising.
✨ Gold Hits Record High Amid Uncertainty ✨
Spot Gold surged to a new all-time high of $2,954.79, driven by uncertainty surrounding potential tariffs and the Russia-Ukraine peace deal. Volatility may persist until there’s more clarity on these developments.
Meanwhile, Goldman… pic.twitter.com/OJBeZ1ds62
— Phillip Nova (@Phillip_Nova) February 20, 2025
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✨ Gold Hits Record High Amid Uncertainty ✨
Spot Gold surged to a new all-time high of $2,954.79, driven by uncertainty surrounding potential tariffs and the Russia-Ukraine peace deal. Volatility may persist until there’s more clarity on these developments.
Meanwhile, Goldman… pic.twitter.com/OJBeZ1ds62
— Phillip Nova (@Phillip_Nova) February 20, 2025
Susannah Streeter, head of money and markets at Hargreaves Lansdown, says gold is benefitting from being a safe haven as traders mull the inflationary risks of US tariffs and geo-political risks.
Streeter adds:
The precious metal is riding high at record levels amid concerns about Trump’s trade and foreign policy stances. Tensions remain high around talks over Ukraine after the US President referred to President Zelensky as a dictator. The US message that Europe should do more itself to counter military threats, is adding to concerns about a fracturing of solid defence relations.
Geopolitical tensions have also pushed up demand for gold.
Inki Cho, financial markets strategist consultant to Exness, says President Donald Trump’s recent announcement of a new 25% tariff on key imports, including cars, semiconductors and pharmaceuticals, sparked a “risk-off” dash into safer assets, adding:
On the geopolitical front, the ongoing conflict between Russia and Ukraine adds another layer of complexity. The US started negotiations with Russia, raising hopes for a resolution. Steady progress in negotiations could strengthen risk appetite, putting pressure on gold. Conversely, any setbacks may reinforce gold’s appeal as a safe-haven asset.
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Spot gold has gained 0.7% today to $2,954 per ounce, meaning it has risen by over 12% so far this year.
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Goldd is benefitting from rising trade tensions stirred up by Donald Trump, and by recent signs that inflationary pressures are rising.
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✨ Gold Hits Record High Amid Uncertainty ✨
Spot Gold surged to a new all-time high of $2,954.79, driven by uncertainty surrounding potential tariffs and the Russia-Ukraine peace deal. Volatility may persist until there’s more clarity on these developments.
Meanwhile, Goldman… pic.twitter.com/OJBeZ1ds62
— Phillip Nova (@Phillip_Nova) February 20, 2025
“},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Susannah Streeter, head of money and markets at Hargreaves Lansdown, says gold is benefitting from being a safe haven as traders mull the inflationary risks of US tariffs and geo-political risks.
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Streeter adds:
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The precious metal is riding high at record levels amid concerns about Trump’s trade and foreign policy stances. Tensions remain high around talks over Ukraine after the US President referred to President Zelensky as a dictator. The US message that Europe should do more itself to counter military threats, is adding to concerns about a fracturing of solid defence relations.
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Geopolitical tensions have also pushed up demand for…
Read More: Gold hits record high amid geopolitical worries; Lloyds Bank profits drop 20% –