Positive trends persist in gold prices amid uncertainty in trade. Ons gold traded near a record level of $2,230. Gram gold approached 4,000 liras.

The demand for safe haven assets continues due to the uncertainty in global trade. Ons gold is hovering near a record level of $2,230. While the price of gold hit a record high of $3,245 yesterday, it has recorded a 23% increase since the beginning of the year. US President Donald Trump signaled exemption from additional tariffs on automobiles following those on technology products. In an announcement in the Oval Office, Trump stated, “I am looking for something to help the car companies. They are switching to parts produced in Canada, Mexico, and other places, and they need some time, because they will manufacture them here.” Goldman Sachs raised its 2025 gold price forecast from $3,300 to $3,700 per ons. Goldman set its 2025 expectation at $4,000. UBS updated its year-end gold forecast to $3,500, while Commerzbank set it at $3,000. Investors are focusing on how the Federal Reserve (Fed) will proceed with its monetary policy amid growing recession and inflation fears. Fed Board Member Christopher Waller stated that if Trump’s tariffs stay in place, interest rates may need to be lowered soon. Clues about interest rate cuts will be sought from Fed Chair Jerome Powell’s speech today. A rate cut of 86 basis points is priced into the markets by year-end. The Fed is expected to keep interest rates unchanged next month. GRAM GOLD HOW MANY LIRAS? In parallel with ons gold, there was an increase in gram and quarter gold prices. Gram gold is changing hands at 3,948 liras. Quarter gold, on the other hand, is changing hands at 6,475 liras.