This morning, gold prices continued to surge strongly, setting a new ATH peak around 4,844 USD/ounce, and the upward momentum shows no signs of cooling down.
The main reason still comes from the tariffs imposed by Donald Trump on Greenland, which continue to cause tensions, with no negotiations having taken place so far. This has raised the risk that the EU may activate a retaliatory tariff package worth nearly 100 billion USD on goods imported from the United States.
Although the possibility of negotiations still exists, the prolonged stalemate indicates that the risk of a trade conflict erupting is entirely possible.
In addition, geopolitical tensions in the Middle East, especially involving Iran, are also quietly escalating.
These are the two main factors driving gold prices to soar sharply in a short period of time.
During this period, traders should closely monitor news developments related to these two issues in order to make prudent trading decisions.
There is a high probability that this is the beginning of the super bullish scenario for gold prices this year, which I have mentioned in previous articles.
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