Thursday, April 24 — Markets Update Gold prices rebounded sharply on Thursday following two days of strong selling pressure, as geopolitical tensions flared once again. The precious metal climbed to around $3,335 after sliding from its recent peak of $3,500 earlier in the week. The market shift came after U.S. President Donald Trump reignited trade tensions with China, signaling the possibility of imposing new “reciprocal” tariffs within the next two to three weeks. Speaking from the Oval Office late Wednesday, Trump warned that countries currently in negotiations with the U.S. could also face tariffs if talks do not proceed favorably. These comments dampened earlier hopes of de-escalation and rattled investor sentiment, according to Bloomberg. Adding to the hawkish tone, U.S. Treasury Secretary Scott Bessent clarified that Trump’s earlier remarks were not indicative of a willingness to remove tariffs unilaterally. Bessent emphasized that the administration continues to evaluate a broad range of issues, including non-tariff barriers and Chinese government subsidies. Economic Calendar on 24/04/2025 As equities retreated, investors pivoted back toward safe-haven assets, with gold regaining ground. The renewed trade uncertainty also hit Chinese markets particularly hard. In Shanghai, gold futures suffered their largest single-day decline since 2013, as local traders rushed to lock in profits following what they believed to be a nearing resolution in the China-U.S. trade dispute. Despite the volatility, some market participants remain optimistic about gold’s longer-term outlook. “The temporary reprieve from Trump has fizzled out,” said Priyanka Sachdeva, an analyst at Philip Nova Pte in Singapore. “Investors who missed April’s earlier dip-buying opportunity returned to the market today.” In Switzerland, the Swiss National Bank reported that its gold reserves helped generate a profit of 6.7 billion Swiss Francs (CHF) in the first quarter, highlighting gold’s enduring role as a stabilizing asset during turbulent times. As trade tensions resurface and investor nerves are tested, gold continues to assert its role as a reliable hedge in uncertain economic terrain.