Dow Tumbles 1000 Points as Markets Brace for Global Trade War
A global stock market slump like the one taking hold Thursday would typically lead to rising gold prices. But even the precious metal is struggling to make gains.
Gold futures fell 0.5% to $3,150 per ounce early in the day after hitting another record settlement high of $3,166 Wednesday.
“When faced with uncertain times, investors normally form an orderly queue to load up on gold. However, even the shiny stuff fell in value as the Liberation Day gloom set in,” AJ Bell investment analyst Dan Coatsworth said.
Perhaps with the broader market slide investors are taking profits wherever they can. Gold is certainly an area of strength in the market–the precious metal is up more than 19% in 2025.
That doesn’t mean the rally is done, though. Further gains from here may just be at a more sedate pace.
“While we wouldn’t expect returns to continue at this pace, the uncertain outlook with increased buying from central banks, particularly in emerging markets means that the commodity may well continue to enjoy support,” Hargreaves Lansdown head of fund research, Victoria Hasler, said.