Gold Hits Seventh Consecutive Monthly High Amid Global Tensions

Gold prices remained stable this Friday as they entered their seventh consecutive month of gains, bolstered by ongoing uncertainty over US tariff policies and escalating tensions between the United States and Iran.

Spot gold edged slightly lower, settling at $5,181.18 per ounce by 08:37 GMT on Friday morning, following a February rise of 6.5 percent and a total growth of 58 percent for seven months to date. US gold futures for April delivery also ended flat at $5,198.10.

The 10-year yield dipped to its lowest point in three months, reducing the financial opportunity cost associated with holding non-interest-bearing gold. “There are two key factors fueling this,” commented ANZ analyst Soni Kumari: tariff uncertainty and tensions between the US and Iran over their nuclear dispute.

US Secretary of Commerce Jamieson Greer announced plans to increase tariffs for some countries from a temporary 10 percent to a higher rate, reflecting ongoing trade disputes. Meanwhile, indirect negotiations between the United States and Iran were held in Geneva; an Omani mediator reported progress during these talks, but no clear resolution was reached.

These discussions have maintained gold prices at elevated levels yet haven’t generated enough momentum for a sustained bullish trend. The latest meetings left geopolitical risks present rather than intensifying, keeping spot gold at its current high point.

The US began collecting its new 10 percent global import tariff on Tuesday. However, some countries will face an increase to the 15 percent rate. On the economic front, US jobless claim numbers showed a slight rise last week but remained stable for February.

Spot silver advanced by 1.7 percent to $89.87 per ounce, positioning it to achieve its seventh monthly gain of 6.2 percent in March. Platinum surged 4.1 percent to reach $2,365.33 per ounce, marking a four-week high. Similarly, palladium’s value rose by 2.1 percent to settle at $1,821.28 per ounce.

These shifts underscore the varied ways gold and its components are influenced by global economic conditions, trade disputes, and geopolitical developments. Gold remains an attractive asset class amid these uncertainties, offering both safety in turbulent times and potential for growth as markets evolve.