Gold prices broke through the $3,100 per ounce level in early morning trade on Monday ahead of a potential new tariff announcement from the United States.
On Monday, spot gold prices hit above $3,127 per ounce before coming down. In the previous three days, gold prices had made large gains in two days, declining marginally on one. As of 10:00 a.m. EST, March 31, spot gold prices were trading at around $3,113, up by roughly 0.77 percent from the day before.
“Gold is one of the best-performing major commodities this year, up 19 percent year to date, driven by trade frictions, economic uncertainty, central bank buying, and inflows into ETF holdings,” ING Bank said in a March 31 report….