MARKET OVERVIEW - Uncertainty surrounding the effects of Trump's trade policies keeps interest alive.

Gold prices are rising in the markets as they await U.S. President Donald Trump's announcement of his extensive reciprocal tariff plans on April 2. This morning, spot gold increased by just 0.178% to $3025.41 compared to yesterday. The potential inflationary impact of Trump's tariff policies, along with the possibility of slowing economic growth and escalating trade tensions, keeps interest in gold alive.

ANZ commodity strategist Soni Kumari noted, "There are real concerns regarding U.S. economic growth and inflation. The U.S. may face a stagflationary scenario, which could support prices." OANDA's senior market analyst Kelvin Wong added that the strength of the U.S. dollar has put pressure on prices, and uncertainty surrounding the implementation of tariffs has left prices trapped in a horizontal range. Market participants will also be monitoring upcoming speeches from several Fed officials later today, with U.S. personal consumption expenditure data expected on Friday. Kumari forecasts gold could reach $3,200 by September, suggesting that a hawkish comment from the Fed could slow the gold rally.