Tuesday, 22 July 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold falls as trade tensions soften, US data on tap
Tuesday, 29 April 2025 21:50 WIB | GOLD |GOLD

Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve's policy outlook.

Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20.

"There is some optimism that there will be some de-escalation of the trade war between the U.S. and China," said David Meger, director of metals trading at High Ridge Futures.

"We've seen the equity markets rebound over the course of the last several sessions. So there's been a bit of a lesser need for safe havens like gold."

President Donald Trump's administration plans to lessen the effect of auto tariffs by lowering taxes on foreign parts used in U.S.-made cars and making sure imported cars aren't hit with multiple tariffs, officials said.

Softening trade tensions has caused a sell-off in safe-haven gold, a traditional hedge against rising global instabilities, which rose in an unprecedented rally to notch a record high at $3,500.05/oz last week.

For gold futures, "first resistance is seen at this week's high of $3,363.80 and then at last Friday's high of $3,384.10. First support is seen at $3,300.00 and then at last week's low of $3,270.80," Jim Wyckoff, senior analyst at Kitco Metals wrote in a note.

U.S. Treasury Secretary Scott Bessent said on Monday several top trading partners had made "very good" proposals to avoid U.S. tariffs. China's recent moves to exempt certain U.S. goods from its retaliatory tariffs showed a willingness to de-escalate trade tensions, Bessent added.

On investors' radar now is a slew of important U.S. economic data this week, including the personal consumption expenditures price index on Wednesday, and a monthly non-farm payrolls report on Friday.

Spot silver rose 0.1% to $33.2 an ounce, platinum eased 0.3% to $983.26 and palladium lost 0.8% to $941.51.

Source: Reuters

RELATED NEWS
Gold surges above $3,390 as US dollar and Treasury yields slide on trade concerns and Fed independence ...
Tuesday, 22 July 2025 01:41 WIB

Gold prices surged more than 1% on Monday (July 21st) as the US dollar and US Treasury yields fell sharply amid uncertainty over a trade deal, amidst overall risk sentiment in the market. At the time ...

Gold Rises as Traders Assess Impact of Tariffs on Inflation and Interest Rates ...
Monday, 21 July 2025 23:11 WIB

Gold rose to its highest level in more than a month as traders assessed the impact of tariffs on inflation and interest rates in the absence of relevant economic data. The dollar and bond yields weak...

Gold surges as the Dollar retreats on rising EU-US trade tensions...
Monday, 21 July 2025 21:35 WIB

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...

Gold prices rise amid uncertainty over U.S. trade negotiations...
Monday, 21 July 2025 18:38 WIB

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...

Gold gains on softer dollar as investors await US trade updates ...
Monday, 21 July 2025 13:39 WIB

Gold prices climbed on Monday, supported by a weaker dollar as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the Federal Reserve's polic...

LATEST NEWS
Japanese Shares Rise as Ishiba Stays in Power

The Nikkei 225 rose 1% to around 40,200, while the broader Topix Index gained 0.9% to 2,860 in post-holiday trading on Tuesday, extending last week's gains as investors digested the weekend's election outcome. Although Japan's ruling coalition...

Oil Holds Loss as Trade Negotiations Intensify Before Deadline

Oil was little changed after two modest declines as talks between the US and its trading partners gain urgency ahead of next week's deadline. West Texas Intermediate traded near $67 a barrel after closing lower for two sessions, while Brent...

Gold Sparkles This Morning!

Gold prices held near a monthly high of $3,395 per ounce, supported by increased demand for safe haven assets ahead of the August 1 US tariff deadline. The White House's statement that President Trump may issue more unilateral tariffs increased...

POPULAR NEWS
Asia markets trade mixed as investors assess trade developments, await China benchmark rates
Monday, 21 July 2025 07:45 WIB

Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...

European Stocks Cautious
Monday, 21 July 2025 14:47 WIB

European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...

Russia Strikes Ukraine With Drones and Missiles, Killing One
Monday, 21 July 2025 09:45 WIB

Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged...

U.S. plays hardball on tariffs deadline as EU battles for a deal
Monday, 21 July 2025 18:32 WIB

The U.S. has signaled it will not let up on its Aug. 1 deadline for higher tariffs on the European Union as the bloc fights to strike a deal in...