🔥 Gold Holds the Line Above $5,000 as War Fears, Tariffs, and Fed Anxiety Shake Global Markets

Gold is once again proving why investors call it the ultimate safe haven.

The precious metal steadied near $5,180 an ounce on Thursday after a blistering rally that has seen prices climb almost 6% in just six trading sessions and more than 20% year-to-date. Behind the surge: a volatile mix of Middle East tensions, aggressive U.S. trade policy, and growing unease about the independence of America’s central bank.

Markets have been on edge following reports of a U.S. military buildup in the Middle East, coinciding with renewed nuclear negotiations between Washington and Iran. Talks entered a third round this week as Donald Trump issued a stark deadline of March 1–6 for a deal, warning that failure could trigger military action.

That ultimatum has injected fresh uncertainty into already fragile global sentiment — a classic catalyst for gold buying.

“Investors are repricing geopolitical risk and tariff uncertainty at the same time,” noted analysts at Oversea-Chinese Banking Corp., describing the current environment as one primed for continued volatility.

The Trump administration is also pressing forward with its protectionist trade agenda. U.S. Trade Representative Jamieson Greer said the president plans to authorize tariffs of up to 15% globally “where appropriate,” expanding on a sweeping 10% levy that took effect earlier this week.

The move has rattled trading partners and revived fears of a broader slowdown in global commerce — another factor pushing investors toward hard assets.

Trade friction, combined with geopolitical risk, has helped gold recover sharply after a brief pullback from its late-January record near $5,595 an ounce.

Gold’s advance has also been supported by a softer U.S. dollar, which slipped again Thursday, making bullion more attractive to international buyers.

But an equally powerful driver may be anxiety about monetary policy credibility.

In a farewell essay before retirement, Atlanta Federal Reserve President Raphael Bostic warned that Americans are increasingly questioning the independence of the Federal Reserve — a rare public concern that added to investor unease.

When confidence in institutions wavers, analysts say, gold often benefits as a hedge against policy uncertainty and potential currency debasement.

Further geopolitical friction surfaced when Cuban forces killed four individuals involved in an armed maritime incident linked to Florida, raising fears of another flashpoint near U.S. borders.

Taken together, the developments have reinforced what strategists call a “multi-year structural bull run” in gold — driven by:

Despite the strong momentum, analysts caution that the market may enter a period of consolidation as traders digest fast-moving developments, including Federal Reserve policy signals and currency fluctuations.

As of Thursday morning in London:

Gold’s resilience above the psychologically critical $5,000 level signals that investors are no longer reacting to a single crisis — they are pricing in a world where geopolitical rivalry, protectionism, and policy uncertainty may persist for years.

In that environment, bullion isn’t just glittering.
It’s becoming a barometer of global anxiety.