Gold prices steadied near all-time highs Wednesday, as traders awaited more clarity on fresh trade tariffs from the Trump administration. At 08:05 ET (13:05 GMT), XAU/USD traded largely unchanged at $3,123.72 per ounce, just below Tuesday's all-time high of $3149.03. Gold Futures rose 0.5% to $3,161.31 an ounce. Trump tariff details due The yellow metal had hit consecutive fresh record-highs in the last four sessions, but traders were cautious on the day of Trump tariffs, leading to increased volatility on Wednesday. U.S. President Donald Trump is poised to implement extensive reciprocal...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, starts to turn red and dips below 104.00 at the time of writing on Wednesday, while equities sell off and bond yields drop. The Greenback remains sidelined just hours before United States (US) President Donald Trump announces the reciprocal tariff implementation at the White House at 20:00 GMT. The White House and the Trump administration are very sketchy in details, and until now, it remains unclear what the tariffs will mean for markets. On the economic data releases, this...
Gold prices rose towards their record high on Wednesday, supported by safe-haven demand as markets braced for U.S. President Donald Trump's latest tariff plans later in the day. Spot gold was up 0.4% at $3,123.05 an ounce at 01:46 a.m. EDT (1746 GMT). U.S. gold futures settled 0.6% higher at $3,166.20. "Risks remain that tariffs could stoke inflation, which has buoyed gold prices. While a U.S. recession is not our base-case scenario, the risk of such has helped maintain strong interest in gold as a safe haven," said Standard Chartered analyst Suki Cooper. "If the tariffs are not as...