As the US dollar strengthens and trade tensions escalate, gold hits a three-week high

LootboxPhobia · 2026-02-24T10:57:44+00:00

On Tuesday, despite the US dollar rising over 0.2%, gold prices continued to climb to their highest point in three weeks. Geopolitical and trade tensions intensified, coupled with upcoming negotiations between Iran and the US, leading to sustained demand for gold.

LootboxPhobia

2026-02-24 10:57:44

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Investing.com – On Tuesday trading session, gold prices rose to their highest level in over three weeks, despite the US dollar appreciating by more than 0.2%.

This rally in the precious metal occurs amid escalating geopolitical and trade tensions. President Trump has warned countries not to back out of existing trade agreements.

On the diplomatic front, Iran and the United States plan to hold a new round of talks on Thursday. The upcoming negotiations add new developments to the current international discussions.

A US dollar increase of over 0.2% typically puts pressure on gold prices, as a stronger dollar makes it more expensive for investors holding other currencies to buy gold. However, despite the exchange rate headwinds, gold managed to rise.

The rally to a three-week high reflects ongoing demand for this traditional safe-haven asset amid current trade policy uncertainties and international negotiations.

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