Update: Gold Trades Above US$3,000 as the Dollar Weakens and Safe-Haven Demand Contunues

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Update: Gold Trades Above US$3,000 as the Dollar Weakens and Safe-Haven Demand Contunues

, MT Newswires - 2:00 PM ET 3/17/2025 default

02:00 PM EDT, 03/17/2025 (MT Newswires) -- Gold prices traded above US$3,000 for a second-straight session mid-afternoon on Monday as the dollar dipped, on continuing safe-haven buying.

Gold for April delivery was last seen up US$4.30 to US$3,005.40 per ounce, rising off Friday's record close of US$3,001.10.

The price of the precious metal is up 37% over the past 12 months, supported by falling interest rates and safe-haven buying amid Middle East turmoil and U.S. President Donald Trump's chaotic trade wars.

"Growth concerns, sticky inflation, combined with global economic and geopolitical tensions, and fiscal debt concerns continue to support prices," Saxo Bank noted.

The dollar was last seen lower, supportive for commodities priced in the currency. The ICE dollar index was last seen down 0.29 points to 103.43. Treasury yields were mixed, with the U.S. two-year note last seen paying 4.04%, up 1.0 basis points, while the yield on the 10-year note was down 3.2 points to 4.285%.

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