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Gold Prices · Interest Rates · Tariffs · US-Iran Talks
Gold prices saw an increase, with spot gold up 0.8% and futures gaining 0.5%, following a previous day's decline.
This rise is attributed to a combination of factors including newly imposed U.S. tariffs, which have created global trade uncertainty, and ongoing geopolitical tensions, specifically the upcoming U.S.-Iran talks. A slightly weaker U.S. dollar also provided some support.
However, expectations of elevated U.S. interest rates are capping further gains. JP Morgan forecasts gold prices could reach $6,300 per ounce by the end of 2026, citing demand from central banks and investors.
Other precious metals like silver and platinum also saw significant price jumps.
Geopolitical Tensions Propel Gold's Nearly 4% Weekly Gain; JP Morgan Sees $6,300 by 2026(current)