Gold rose toward $3,360 per ounce on Thursday, following a two-day decline, as lingering uncertainty over the US-China trade war sustained demand for the safe-haven asset. Treasury Secretary Scott Bessent said Wednesday that steep tariffs between the US and China will need to be reduced before trade talks can advance, though he emphasized that President Trump will not unilaterally cut tariffs on Chinese goods. Meanwhile, Trump plans to exempt carmakers from certain tariffs after weeks of intense lobbying by industry executives, easing some concerns over trade tensions. Gold has now risen over 30% since the start of the year, with the gold-to-silver ratio reaching its highest level since 1994, excluding the pandemic. The surge has been fueled by waning fears that trade barriers and unpredictable economic policies could undermine confidence in US exceptionalism, prompting investors to shift away from US assets in favor of gold.
Source: Trading Economi
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