22.04.202517:33:34UTC+00Gold Pulls Back from Record High

On Tuesday, gold prices dipped below $3,400 per ounce after reaching a record high of $3,500 earlier in the day. This decline aligns with a broader slight market retreat affecting assets that had gained due to safe-haven demand earlier in the month. This shift occurred amidst initial indications of a softened stance on tariffs from the United States. Treasury Secretary Scott Bessent suggested that the current tariff dispute with China is not sustainable, expressing an expectation for a reduction in trade tensions. Concerns surrounding the increasing tariffs on Chinese imports, along with investigations into tariffs on key goods crucial to the U.S. economy, have prompted some global investors to reassess the sustainability of U.S. financial dominance. As a result, they are opting for gold and foreign real money over U.S. Treasuries and the dollar for greater security. Consequently, gold prices have surged by over 33% since the beginning of the year, and the gold-to-silver ratio has widened to its highest point since 1994, except during the pandemic.