Gold prices edged higher in Asian trade on Tuesday, staying below recent record highs as concerns eased over the severity of U.S. President Donald Trump's planned trade tariffs.
However, demand for the safe-haven asset remained relatively high amid uncertainty over what tariffs will be imposed by Trump's April 2 deadline. Investors are also cautious ahead of a series of key economic readings this week.
Gold and other precious metals pulled back from recent peaks this week, as risk appetite improved on reports that Trump's tariffs would not be as severe as feared. However, a weaker dollar limited bigger losses in the metals market, keeping it near recent highs.
Spot gold rose 0.1% to $3,015.51 an ounce, while May gold futures rose 0.1% to $3,048.05 an ounce by 00:59 ET (04:59 GMT). Gold prices fall from record highs as Trump tariff fears ease
Spot gold prices - which reflect short-term demand for physical bullion - fell sharply from a record high of $3,057.51/oz hit last week.
The lower gold prices were driven mainly by improved risk appetite, with Wall Street also recovering sharply from recent lows this week.
Traders were seen increasing bets that Trump's April 2 tariffs would not cover key sectors such as semiconductors, autos and pharmaceuticals. Trump's retaliatory tariffs are also expected to apply to a select group of about 15 countries, limiting their overall impact.
But the impact and scope of Trump's policies remain uncertain, which has led markets to gravitate towards safe-haven assets. Gold is still trading above the coveted $3,000/oz level, which it hit in early March.
The notion helped the yellow metal post some gains on Tuesday. Other precious metals also rose, with silver futures up 0.7% to $33.673 an ounce, while platinum futures were steady at $967.10 an ounce.
Among industrial metals, benchmark copper futures on the London Metal Exchange rose 0.4% to $9,989.60 an ounce, while May copper futures jumped 0.9% to $5.1280 a pound.(Newsmaker23)
Source: Investing.com
Gold price surges on Wednesday, up by over 0.60%, folllowing US inflation data, which increased speculation that the Federal Reserve (Fed) will resume its easing cycle at the upcoming September meetin...
Gold surged near a record high of $3,650 an ounce on Wednesday (September 10) after an unexpected decline in US producer prices reinforced expectations that the Federal Reserve will continue cutting i...
Gold prices hovered near an all-time high on Wednesday, buoyed by expectations of a U.S. interest rate cut this month, while market participants awaited U.S. inflation data for clues on the Federal Re...
Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were ...
Gold rises in the early Asian trade. Its recent surge past $3,600/oz reflects investor demand for safe-haven assets due to deepening global economic and geopolitical uncertainty, Sean Hoey, managing d...
Japanese stocks were mixed following a Wall Street rally driven by the chip/tech sector. An unexpected decline in the US PPI fueled hopes of a Fed rate cut. Investors in Tokyo remained cautious ahead of the US CPI release.At 9:27 a.m. Tokyo time,...
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut interest rates again next week. Early in the...
Prices are hovering around 41,165, supported by expectations of a Fed rate cut, which is pressuring USD/yield, a positive correlation with gold, and solid industrial demand (solar power and electronics).Key catalysts: US CPI release tonight WIB. A...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...