Risk aversion demand compounded by rise concerns Multiple factors drive gold futures to hit new highs

Golden Ten Data reported on March 18 that gold futures hit a new high, driven by safe-haven demand. Gold futures hit a record high of $3,038 an ounce. Analyst Chabras said in a note that gold prices surged as investors continued to hage economic and geopolitical uncertainty. Amid escalating tensions in the Middle East and U.S. tariffs continuing to threaten the global economy, gold's safe-haven appeal is strong, Chaberas said. More than 400 people were killed in another Israeli attack on Hamas targets in the Gaza Strip on Tuesday morning, the Palestinian Authority said. Elsewhere, growing concerns about the U.S. economy weighed on the dollar, adding to gold's strength, Chaberas wrote. "President Trump's disruptive trade policies are taking their toll, inflation expectations are soaring, recession fears are rising, and Wall Street is under pressure."