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Gold holds near record peak as trade jitters buoy safe-haven demand

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Gold prices eased on Thursday as the dollar regained some ground, although concerns over the U.S.-China trade war kept the safe-haven bullion close to a record high level hit in the previous session.

Spot gold was 0.4% lower at $2,854.39 per ounce by 0802 GMT, after hitting an all-time peak of $2,882.16 in the previous session, Reuters reported.

U.S. gold futures shed 0.6% to $2,875.

The dollar index , which measures the greenback against six major rivals, was up 0.2%.

“Investors are trying not to miss this rally as they place their position because they are happy with the returns. That’s the reason why it’s (gold) hitting successive highs,” said Soni Kumari, a commodity strategist at ANZ.

“Bullion could hit the $3,000 level soon … However, what could make the market consolidate will be some clarity on trade ties or easing trade tensions.”

On Wednesday, China filed a World Trade Organization complaint against U.S. President Donald Trump’s new 10% tariff on Chinese imports.

A trade war between the world’s two largest economies could weigh on global growth and drive up inflation, benefiting the bullion further as it is considered a safe investment during economic and geopolitical turmoil.

“The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand,” Citi said in a note.

“Global growth concerns are also set to raise ETF and over-the-counter investment demand.”

U.S. Federal Reserve officials also pointed to the large policy uncertainty around tariffs and issues arising from the early days of Trump’s administration as among the top challenges in figuring out where to take the monetary policy in the months ahead.

Market focus is now on U.S. weekly jobless claims data, due at 1330 GMT, and the non-farm payrolls report on Friday, which could offer insights into the economy’s overall strength.

Spot silver dropped 1.3% to $31.91 per ounce, and palladium fell 0.4% to $985.48. Platinum gained 0.2% to $981.74.

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‘Made in Afghanistan’ expo opens in Tashkent

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The Afghanistan Chamber of Commerce and Investment has announced that a major exhibition of Afghan products titled “Made in Afghanistan” is opening today (Wednesday) in Uzbekistan’s capital Tashkent.

According to the chamber, the expo—supported financially by the United Nations Development Programme—will run until Friday and aims to showcase Afghanistan’s production and export potential.

More than 60 booths have been set up by Afghan traders, featuring a wide range of products including carpets, dried and fresh fruits, saffron, pine nuts, cotton, precious and semi-precious stones, as well as beverages.

Officials from the chamber expressed hope that the expo will help expand trade relations between Afghanistan and countries in the region, particularly Uzbekistan.

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Afghani strengthens nearly 10% against US dollar amid banking sector reforms

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

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Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.

Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.

Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.

Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.

They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.

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Uzbekistan delivers over 290 tons of aid to Afghanistan

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

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Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.

Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.

Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.

The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.

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