Gold slightly rose in the U.S. under the influence of economic slowdown concerns. The spot gold traded around $2,900 per ounce today. Meanwhile, gram gold changed hands above 3,400 Turkish liras. Gold prices remained stable amid increasing uncertainties in the global economy. The spot gold traded at the $2,900 limit with a 0.35% increase. Gram gold was traded at 3,404 Turkish liras. On the other hand, quarter gold exchanged at 5,583 Turkish liras. The spot price of gold hit a record high at $2,956 on February 17. The consecutive record-breaking performances of gold this year resulted in investors’ gains exceeding 10%. Uncertainties caused by the policies of President Donald Trump, central bank acquisitions, and expectations regarding Fed’s interest rates continued to support gold prices. RECESSION SIGNALS FROM TRUMP Trump did not ignore the possibility that tariffs on Canada and Mexico might lead the country’s economy to face a recession or increase in inflation during an interview he gave the other day. When asked about the expectations of a recession due to tariffs this year, Trump expressed his hatred towards making predictions in such matters. Trump stated, “There’s currently a transition period because what we are doing is huge. We are bringing wealth back to America. This is a very important thing. There are always periods that require some time.” RISING INFLATION CONCERNS Eyes in the market turned to the U.S. inflation data to be announced this week. The results of the Consumer Expectations Survey released by the Federal Reserve Bank of New York before the inflation data revealed that the short-term inflation expectations of consumers in the U.S. increased. As a result, the short-term median inflation expectation covering the next 12 months rose from 3% to 3.1% last month. Therefore, the short-term inflation expectation recorded an increase for the first time in four months.