Gold prices have risen to a two-week peak amid escalating trade tensions and hopes for Federal Reserve interest rate cuts. The increase in gold's safe-haven appeal is linked to the implementation of new U.S. tariffs, including a 145% tariff on Chinese goods effective April 9, 2025, which has disrupted the gold market. Managers at two major Asian gold refineries have paused shipments to the U.S. pending clarity on these tariffs, affecting the flow of gold bullion. The U.S. jobs data has supported expectations of a Federal Reserve rate cut, further buoying gold prices. Additionally, the South African rand has strengthened due to higher gold prices. Asian currencies are also experiencing gains, heading for their best week since June, driven by renewed bets on Fed rate cuts. The market disruption has raised concerns about a potential funding crisis in the gold sector. President Trump's appointment of a temporary Federal Reserve governor, expected to advocate for lower interest rates, has also contributed to the positive momentum in gold prices. Overall, gold is on track for its biggest weekly climb in a month amid the combined effects of tariffs, trade frictions, and monetary policy expectations.