Gold prices climbed on Thursday as investors monitored U.S. President Donald Trump’s tariff proposals, which could escalate global trade tensions. Spot gold increased by 0.6% to $2,922.29 per ounce, nearing its record high, while U.S. gold futures gained 0.7% to $2,949.30. The market is also awaiting U.S. Producer Price Index (PPI) data after January’s inflation report showed a stronger-than-expected rise in consumer prices. Federal Reserve Chair Jerome Powell signaled that rate cuts remain on hold as inflation remains above the 2% target.
Gold Prices Rise as Markets React to Trump’s Tariff Plans and Inflation Concerns
