FX.co ★ Gold Holds at Historic High

Gold remained steady at approximately $3,030 on Wednesday, marking a new all-time high as investors sought refuge amid escalating geopolitical tensions and uncertainty surrounding tariffs. In a significant development in Middle Eastern conflicts, Israel executed its most lethal attack on Gaza since its ceasefire with Hamas, cautioning that the offensive was "just the beginning." On the international front, Vladimir Putin agreed to halt strikes on Ukrainian energy infrastructure; however, he dismissed Donald Trump's proposal for a 30-day ceasefire. Concurrently, trade tensions have heightened due to U.S. tariffs, which have included a 25% duty on steel and aluminum since February, with additional reciprocal and sector-specific tariffs anticipated to take effect by April 2. The financial community is now keenly awaiting the Federal Open Market Committee's decision, with particular interest in the updated economic projections that could already incorporate Trump's policies, alongside Powell's address for insights on future monetary policy. Since the year's onset, gold has appreciated by over 15%.