Gold prices eased on Tuesday on profit-taking but remained near record highs as investors turned to the safe-haven asset ahead of President Donald Trump's planned announcement of sweeping tariffs on countries that have a trade imbalance with the U.S.
Spot gold was down 0.3% at $3,113.43 per ounce as of 1:46 p.m. ET (1746 GMT), after hitting an all-time high of $3,148.88 earlier in the day.
U.S. gold futures settled 0.1% lower at $3,146.
It's "not surprising to see a little bit of profit taking, particularly given that the market had become rather overbought ... I don't really see much of a change in the fundamentals ... it's a perfect storm for gold," said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets and consumers are waiting for details of Trump's planned tariffs, set to be announced on Wednesday. White House aides have drafted plans for tariffs of around 20% on most U.S. imports, the Washington Post reported Tuesday.
Silver fell 1.4% to $33.6 an ounce, platinum was down 0.8% at $984.64. Palladium fell 0.2% to $981.0.
Source: Reuters
Gold weakened slightly on Thursday (September 11), but held near record highs well above $3,600, as a modest dollar recovery and profit-taking weighed on prices, while investors awaited US consumer in...
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Th...
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...
Oil prices fell on Thursday (September 11), pressured by concerns over weakening US demand and a widespread oversupply, offsetting the threat to production from conflicts in the Middle East and Russia's war in Ukraine. Brent crude futures fell 86...
Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the US Bureau of Labor Statistics (BLS) reported on Thursday. This figure was in line with market...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
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...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...