Market Update – Baghdad
Gold prices experienced an uptick on Monday following a record peak last week, fueled by heightened geopolitical tensions and concerns over tariffs, which are exacerbating trade frictions and sparking expectations for interest rate reductions by the Federal Reserve to bolster safe-haven demand.
As of 03:07 GMT, the price of gold in immediate transactions rose by 0.1%, reaching $2,986.53 per ounce.
Gold surpassed the $3,000 per ounce threshold on Friday, achieving an unprecedented high of $3,004.86.
Conversely, gold futures in the United States declined by 0.2%, settling at $2,994.60.
On Sunday, U.S. Treasury Secretary Scott Besten indicated that “no guarantees” exist regarding the prevention of stagnation in the United States, despite potential amendments on the horizon.
Consumer confidence in the United States dropped to its lowest point in approximately two and a half years in March, while inflation expectations increased due to concerns that tariffs imposed by President Donald Trump, which triggered a trade war, would elevate prices and undermine economic stability.
Geopolitical tensions persist, with the U.S. affirming its commitment to continued military action against the Houthis in Yemen to halt their assaults on maritime vessels.
Gold, regarded as a safeguard against political instability and inflation, has appreciated by 14% thus far in 2025.
In the precious metals market, silver fell by 0.1% to $33.76 per ounce, while platinum increased by 0.1% to $994.50. Palladium, however, saw a slight decline of 0.1%, pricing at $963.83.
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