INSUBCONTINENT EXCLUSIVE:
Gold soared to unprecedented levels on February 10, 2025, as escalating trade tensions and geopolitical uncertainty fueled a surge in
Spot gold peaked at $2,911.30 per ounce during the session before settling at $2,902.16, up 1.4%.United States gold futures closed even
higher at $2,929.60 per ounce, marking a 1.62% daily gain
This rally pushed the metal closer to the symbolic $3,000 mark, a level analysts now see as increasingly likely.The surge followed United
retaliatory measures later this week.Analysts like Edward Meir from Marex attributed the rise to mounting fears of a global trade war, which
could exacerbate inflation and economic instability
reserve diversification amid record-high prices.Gold Hits Record High as Trade War Fears Ignite Safe-Haven Demand
(Photo Internet reproduction)Additionally, China launched a pilot program allowing insurers to allocate up to 1% of their assets in gold,
potentially injecting $27 billion into the market
further highlight strong institutional demand for gold
European ETFs recorded substantial gains as investors sought refuge from geopolitical risks and economic volatility.Meanwhile, COMEX trading
volumes exceeded expectations, reflecting heightened interest in bullion contracts
Technically, gold broke through key resistance levels at $2,885 and $2,900 during the day, reinforcing bullish momentum.Analysts noted
overbought indicators like the Relative Strength Index (RSI) at 76 but emphasized strong underlying support at $2,850 and $2,880
Capital Economics warned that rising United States Treasury yields could eventually weigh on gold prices later this year.However,
short-term sentiment remains overwhelmingly positive as investors brace for upcoming inflation data and Federal Reserve policy signals
With gold up nearly 11% year-to-date and geopolitical risks intensifying, its role as a safe-haven asset appears more relevant than ever.
