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Gold recovers most of its losses while world markets sink
By Myra P. Saefong
MarketWatch, New York
Thursday, April 3, 2025
Gold fell victim to a selloff in global markets today after President Donald Trump announced wide-ranging tariffs on foreign imports -- but it's still a clear-cut winner to hedge uncertainty, as bargain hunters helped prices for the precious metal recover much of their losses by the day's settlement.
Gold bulls were looking to "buy the dip amid trade-war chaos," Jake Hanley, managing director and senior portfolio specialist at Teucrium, told MarketWatch, as gold futures traded well off Thursday’s intraday lows.
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Gold futures had dropped by more than $90 an ounce on Comex, from Wednesday's record-high settlement at $3,166.20 an ounce to their intraday low of $3,073.50 today, Factset data showed.
"What we're witnessing today is the kind of asset-wide liquidity event in which everything is sold to raise capital," said Brien Lundin, editor of Gold Newsletter. "In this kind of liquidity vacuum, babies are thrown out with the bath water across the board." ...
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