The US dollar fell Tuesday amid uncertainty over Trump's tariffs policy, but remained near two-year highs ahead of the release of the first of the week's key inflation data. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 109.325, after climbing to a 26-month high on Monday. The dollar slipped from its highs Tuesday following a Bloomberg report that suggested the Trump administration could take a gradual approach to tariffs. The Federal Reserve cut the number of rate cuts projected for 2025 to two at its...
Gold prices rose on Tuesday, helped by a softer U.S. dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year. Spot gold rose 0.3% to $2,669.09 per ounce as of 0932 GMT. U.S. gold futures gained 0.2% to $2,683.20. "This news led to a slight decline in U.S. Treasury yields and a weakening of the dollar." The dollar index fell 0.4% from a more than two-year high hit in the last session as traders scaled back U.S. rate cut bets for 2025 after a strong jobs report. A...
Gold edged higher mid-afternoon on Tuesday as the dollar fell after a U.S. inflation measure rose less than expected last month, while a report said the Trump Administration plans to gradually introduce tariffs on U.S. imports. Gold for February delivery was last seen up US$4.70 to US$2,683.30 per ounce. The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose 0.2% in December from the prior month, under expectations for a monthly rise of 0.3%, according to FactSet. The data comes ahead of Wednesday's release of the U.S. December Consumer Price Index, which is...