Gold surges to record highs supported by macro data and weak dollar 💵
Gold surged to a record $2,800 per ounce, marking a 6.70% gain year-to-date. This rally is driven by mounting geopolitical tensions, tariff uncertainties, and a weakening U.S. dollar, which premiums gold as a safe-haven asset.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app-
Market fears over broad-based tariffs are fueling demand for gold as a hedge against economic instability.
-
Comex gold inventories have surged 70% since the U.S. election, reaching a value of $85 billion.
-
The dollar continue to decline following Trump inauguration, Fed latest meeting and softer-than-expected U.S. GDP growth data. A weaker dollar historically supports gold prices.
-
The Fed held interest rates steady, with Chair Jay Powell signaling a cautious approach to further rate cuts.
The record surge in gold reflects market uncertainty driven by U.S. trade policy, interest rates, and currency fluctuations. Despite the ceasefire between Israel and Hamas and the absence of immediate tariffs during Trump’s presidency, the outlook remains unclear, particularly regarding inflation and commodity prices such as oil. The Fed is not planning swift rate cuts, with the first full reduction priced in for June. Gold is reaching its highest levels today, further supported by declining bond yields.
Source: xStation 5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
