Gold Prices Surge Amid Trade War Fears; Oil Prices Rebound Slightly on Weaker Dollar Despite Recession Concerns

Gold prices increased on Tuesday, driven by investors seeking safe-haven assets amid concerns about the ongoing trade war and its potential impact on global economic growth. Spot gold rose by 0.72% to $2,910.27 per ounce, while the dollar index weakened, making gold more attractive to overseas buyers. Meanwhile, oil prices saw a slight rebound after previous losses, with Brent crude futures up 0.68% to $69.75 a barrel and U.S. West Texas Intermediate crude futures climbing 0.64% to $66.45 a barrel. Despite the gains, concerns about a potential U.S. recession and the impact of tariffs on global economic growth continue to weigh on the market. Investors are also closely monitoring OPEC plans as the producer group is set to bring its initial barrels to the market starting in April, awaiting further clarity on their strategy. U.S. President Donald Trump's protectionist policies have shaken global markets, imposing and delaying tariffs on major oil suppliers Canada and Mexico, while also raising duties on China, prompting retaliatory measures.