hours on Thursday, bolstered by a weaker US Dollar (USD). Investors brace for further development surrounding US President Donald Trump's tariff policy on major trade partners. Trump late Wednesday announced a new trade deal with South Korea, stating that the United States (US) would charge a 15% tariff on imports from South Korea. The agreement includes a $350 billion commitment from South Korea toward US-owned and controlled investments. Also, Investors continue to assess the 25% duties on imports from India, along with an unspecified "penalty." Any signs of tariff uncertainty or renewed...
Gold futures traded flat at around $3,308 per troy ounce, after previously weakening following the Federal Reserve's decision to hold interest rates. The Fed cited the risk of inflation due to tariffs as the primary reason, reinforcing the prospect of prolonged high interest rates, which typically dampens gold's appeal. The strengthening of the US dollar over the past week has also been a major factor weighing on gold prices. A stronger dollar makes gold more expensive for global buyers and reduces its appeal as a safe-haven asset. Gold prices at the time of writing were at...
Gold prices weakened to around $3,290 per ounce on Friday (August 1) and were on track for their worst weekly performance since late June, pressured by a stronger US dollar following President Trump's imposition of higher tariffs on several countries. Trump reaffirmed the global base tariff of 10% and imposed retaliatory duties of up to 41% on countries that do not have trade agreements with the US. He also announced a 40% levy on goods suspected of being routed through third countries to avoid existing tariffs. Source: Newsmaker.id