Gold prices surged by 1.0% to a new high of $2,842.71 as the U.S. dollar weakened, driven by easing concerns over tariffs and a miss in U.S. job openings, according to Morgan Stanley's latest Global Macro Commentary. The U.S. Dollar Index (DXY) fell by 0.9% to 108.01, amplifying gold's appeal as a safe-haven asset. The report highlights that the U.S. job openings rate unexpectedly dropped to 4.5%, signaling a cooling labor market, which contributed to a rally in U.S. Treasury yields and further pressured the dollar. "USD weakness aids the rise in gold prices," Morgan Stanley analysts noted, as the market digested the implications of the Federal Reserve's "wait and see" approach, as stated by San Francisco Fed President Daly. This environment of a softer dollar and geopolitical uncertainties continues to bolster gold's bullish trajectory.