Gold prices hit a three

On Wednesday,What is the crude oil code of the foreign exchange platform gold prices surged significantly, with spot gold reported at $2,755.2 per ounce, rising by 0.4%, reaching the highest level since the record high of $2,790.15 set on October 31. U.S. gold futures also climbed 0.4%, settling at $2,770.90. The weakening dollar and uncertainties surrounding President Trump's policy plans sparked investor concerns over trade tensions and market volatility, boosting demand for gold as a safe-haven asset.

Ryan McIntyre, senior portfolio manager at Sprott Asset Management, stated: "The proposed tariffs and other policy uncertainties have impacted market sentiment. In environments with significant or moderate uncertainty, gold tends to perform well as it is seen as a natural safe-haven asset."

Gold has long been an essential hedge during periods of economic and geopolitical turmoil. However, Trump's proposed tariff policies and other economic stimulus measures could lead to rising inflationary pressures, potentially forcing the Federal Reserve to maintain high interest rates to curb price increases. This outlook adds to the market's uncertainty and further drives the rise in gold prices.

Trump has yet to provide details about his proposed tariffs, leaving the market to speculate on the aggressiveness of the measures and their potential impact on the global economy. This ambiguity has prompted investors to choose safe-haven assets to mitigate risk.

Meanwhile, other precious metal markets also showed some activity. Spot silver remained steady at $30.86 per ounce, near a one-month high set on January 16; platinum rose 0.8% to $950.50; palladium showed the strongest performance, surging 3% to $987.41.

Overall, the gold market continues to benefit from safe-haven demand. The uncertainty of Trump's policies and rising inflation expectations add complexity to the market, making investors more cautious in asset allocation. Precious metals, as tools against inflation, may continue to be favored in the future.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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