Gold finishes in green as US confidence declines

Gold bars 

Gold prices closed in the green today, March 25, supported by safe-haven demand amid ongoing uncertainty over US President Donald Trump's tariff plans next week, as US consumer confidence slumped for the fourth straight month.

April gold futures advanced by rose 0.35%, or $10.30, to end at $3,025.90 an ounce.

Meanwhile, the US dollar index, which gauges the greenback’s strength against a basket of six major currencies, shed 0.1% to 104.15 at 9:45 pm Makkah time.

A recent survey by The Conference Board showed that the US Consumer Confidence Index fell 7.2 points to 92.9 in March, against forecasts for 94.2. Respondents' confidence of their family financial situation six months from now fell below the relatively narrow range that had prevailed since July 2022.

"Investors are concerned about the state of the world, especially with US policies being what they are, and so they are buying gold as an alternative asset because they are concerned that the US government may throw the world into a global recession," said Jeffrey Christian, Managing Partner of CPM Group, per Reuters.