Gold slightly rose in the US amid concerns about economic slowdown. Today, an ounce of gold traded around $2,900. Meanwhile, the price for a gram of gold surpassed 3,400 Turkish liras. The global economic uncertainties kept gold prices relatively stable. An ounce of gold saw a 0.35% increase trading near $2,900, while a gram of gold exchanged hands at 3,404 liras. A quarter of gold was sold for 5,583 liras. The price of an ounce of gold hit a record high at $2,956 on February 17. With gold breaking records consecutively this year, investors saw a gain of over 10%. Uncertainties caused by President Donald Trump’s administration, central bank purchases, and expectations regarding the Fed’s interest policy supported gold prices. RECESSION SIGNAL FROM TRUMP Trump, in an interview the day before yesterday, did not ignore the possibility of tariffs on Canada and Mexico leading the country’s economy into recession or increasing inflation this year. When asked about the recession prospects due to tariffs, Trump expressed his dislike for making predictions on such matters. He stated, “Right now, we’re in a transition period because what we’re doing is so big. We’re bringing wealth back to America. This is a very big thing. There are always periods that take a little bit of time.” INFLATION CONCERNS RISING All eyes in the markets are turned towards the US inflation data to be released this week. Ahead of the inflation data, the Consumer Expectations Survey published by the New York Branch of the US Federal Reserve (Fed) revealed an increase in consumers’ short-term inflation expectations in the United States. Accordingly, short-term median inflation expectations for the next 12 months rose from 3% to 3.1% last month. Therefore, short-term inflation expectations saw an increase for the first time in four months.