22 January 2025
Gold prices experienced a dramatic surge, jumping nearly 2% on Tuesday and extending gains to $2,750 per ounce following Donald Trump’s first day back in office. The precious metal’s rally was fueled by the new president’s signing of over 200 executive orders, particularly those related to tariffs, which markets fear could reignite inflation. This breakthrough above a triple top technical formation has positioned gold within striking distance of its all-time high of $2,790, set during the Middle East conflict in October. While the Fed had previously signaled two rate cuts for 2025, rising inflation expectations might force a policy reassessment, creating a complex dynamic where gold benefits both from its traditional role as an inflation hedge and potential dollar strength resulting from the tariff policies.