Gold is currently trading near its all-time high of $3,250, driven by safe-haven demand, trade war concerns and a softer US inflation gauge. The US Dollar is trading at three-year lows. Here's the latest market update:
*Gold Price*: $3,250 (all-time high)
*US Inflation Rate*: 2.4% (12-month rate)
*US CPI*: 0.1% (March inflation rate)
Market dynamics are influenced by:
*Trade War Concerns*: Trump's 145% tariffs on Chinese goods and China's retaliatory 84% tariffs
*US Dollar*: Trading at three-year lows amid recession fears and Fed interest rate cuts
*Gold ETFs*: Strong inflows in March and Q1
As for Trump's potential use of gold reserves to buy Bitcoin, there is no official confirmation. Trump's stance on Bitcoin and cryptocurrency has been supportive, and his administration's policies have impacted market dynamics.
