ZAR/XAU Price & Performance (ZARXAU)

Gold prices surpassed $3,000 per troy ounce for the first time, reaching $3,004 before retreating to $2,982. The decline of 0.21% followed uncertainty over U.S. trade policies and a weakening dollar. Meanwhile, China's central bank continued to increase its bullion reserves, marking its fourth consecutive monthly rise.12

The euro's recent strength against the U.S. dollar waned as trade tariffs between Europe and the U.S. approach. Market sentiment shifted to favor bearish euro positions, with key developments in German politics and Fitch's credit rating review of France also contributing to volatility expectations for the EUR/USD pair.23

The University of Michigan's Consumer Sentiment Index dropped to 57.9 in March, marking its lowest level in over two years. Inflation expectations surged, with one-year and five-year projections climbing to 4.9% and 3.9%, respectively. This reflects growing concerns over trade policies and economic uncertainties.45