Gold prices rose slightly in European trade on Monday, taking some support from haven demand fueled by persistent uncertainty over elevated U.S. tariffs set to take effect in the coming weeks. A mild pullback in the dollar, after a two-week ascent, also helped spur some gains in metal markets, although gold remained squarely in a $200 trading range seen since at least April. Spot gold ticked higher by 0.5% to $3,365.49 an ounce, while gold futures for September rose 0.4% to $3,372.88/oz by 06:23 ET (10:23 GMT). Gold gains amid murky tariff outlook Advances in gold came after the Wall...
The US Dollar (USD) kicks off the week on the back foot, slipping against major currencies in Monday trading. Investors are reacting to renewed trade tensions ahead of the August 1 deadline and a generally cautious market sentiment. Despite mostly solid US economic data lately, the Greenback is feeling the heat from ongoing uncertainty surrounding the US President Donald Trump administration's ramped-up tariff threats and increasing political pressure on the Federal Reserve (Fed) to cut interest rates. The US Dollar Index (DXY), which measures the Greenback against six major currencies, is...
Gold (XAU/USD) is benefiting from renewed trade tensions on Monday, which have triggered demand for the safe-haven yellow metal. As the August 1 tariff deadline looms, prospects of a deal between the European Union (EU) and the United States (US) are fading. As a result, XAU/USD has recovered with bulls approaching the $3,400 psychological barrier at the time of writing. EU-US trade tensions rise, lifting demand for Gold Ongoing talks between the EU and the US have failed to make any meaningful progress over recent weeks. US President Donald Trump has threatened to impose a 30% tariff on...