Tariff uncertainty, rate cut bets help gold hit new highs again

On March 13, Jinshi Data reported that the price of gold pump on Thursday, hitting historical highs again during the U.S. session, breaking through $2960 per ounce due to uncertainty in tariffs, and the market betting that the Federal Reserve will loosen monetary policy, keeping gold's attractiveness strong. Alex Ebkarian, Chief Operating Officer of Allegiance Gold, said: 'Gold is in a long-term Bull Market. We expect the price of gold to trade between $3000 and $3200 this year.' President Trump's latest trade policy has helped gold pump 12% so far this year. In the midst of geopolitical and economic turmoil, gold is a favored asset for investors. In addition, data from the U.S. Department of Labor showed that PPI unexpectedly remained unchanged in February, while CPI accelerated by 0.5% in January and pumped by 0.2% last month. Meanwhile, initial jobless claims in the U.S. fell last week, but significant cuts in government spending and the threat of an escalation in the trade war posed risks to the stability of the labor market. The Federal Reserve may be forced to drop Intrerest Rate. A drop in Intrerest Rate is seen as favorable for gold, as when yields fall, so do opportunity costs.