Friday, 12 September 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold prices edge higher, copper extends rally as Trump confirms 50% tariffs
Thursday, 10 July 2025 13:17 WIB | GOLD |GOLD

Gold prices rose marginally in Asian trade on Thursday and remained largely within a recently established trading range, while U.S. copper prices extended their rally after President Donald Trump confirmed his plans to tariff the red metal.

Broader metal prices gained ground as the dollar fell amid mixed signals on just when the Federal Reserve will cut interest rates further. But the greenback still maintained a bulk of its recent rebound from three-year lows.

Spot gold rose 0.3% to $3,323.72 an ounce, while gold futures for September rose 0.3% to $3,332.45/oz by 01:34 ET (05:34 GMT).

Gold saw limited safe haven demand from Trump's tariff agenda, as the president released several letters outlining steep trade tariffs on major U.S. trading partners. But he also postponed his effective tariff date to August 1, sustaining some hopes that Washington will sign more trade deals.

Gold rangebound amid rate uncertainty, limited haven demand

Gold stuck largely to a trading range of between $3,300 and $3,450/oz, as the yellow metal grappled with pressure from the dollar and limited haven demand.

Bullion prices took some support from a softer dollar on Thursday, as the greenback fell after the minutes of the Fed's June meeting showed a majority of policymakers still supported cutting interest rates this year.

But Fed members were split over the timing of the cuts, as a bulk of policymakers expressed concerns over the inflationary impact of Trump's trade tariffs.

Fed Chair Jerome Powell has kept up this warning, and recently said that uncertainty over Trump's tariffs was the only factor keeping the Fed from cutting rates.

Gold was also pressured by easing safe haven demand, amid cooling military tensions in the Middle East through the second half of June. Among precious metals, silver and platinum vastly outpaced the yellow metal over the past two months.

Platinum futures rose 0.3% to $1,387.60/oz, while silver futures rose 0.2% to $36.710/oz, with both metals remaining in sight of recent multi-year peaks.

Copper extends rally as Trump says 50% tariffs coming in August

U.S. copper futures rose 1.4% to $5.6183 a pound, remaining close to a record high hit earlier this week. Benchmark copper futures on the London Metal Exchange rose 0.5% to $9,687.10 a ton, recovering some lost ground.

Trump said on Wednesday evening that he will impose 50% tariffs on all U.S. copper imports, effective from August 1. The levies stand to severely crimp domestic copper supplies, especially given that the U.S. imports at least half of its copper requirements.

Trump said the levies are aimed at shoring up domestic copper production, although it remains to be seen whether local production can pick up sufficiently to meet demand.

London copper futures had tumbled on Trump's announcement, given that it heralds weaker demand for copper imports in the U.S., which is still one of the largest consumers of the red metal.

Source: Investing.com

RELATED NEWS
Gold slips as traders book profits despite increasing Fed dovish bets...
Friday, 12 September 2025 02:00 WIB

Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs ...

Gold Trims Losses as Mixed US Data Strengthens Bets on Fed Rate Cut...
Thursday, 11 September 2025 20:40 WIB

Gold trimmed losses after US inflation and labor market data strengthened bets that the Federal Reserve will cut interest rates next week. Consumer prices excluding food and energy rose 3.1% last mont...

Gold Eases Slightly On Dollar Recovery, Focus On US CPI Data ...
Thursday, 11 September 2025 16:33 WIB

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 Steady at $3,645; Fed Rate Cut Speculation Strengthens...
Thursday, 11 September 2025 08:06 WIB

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 climbs to $3,646 as soft US PPI and geopolitical risks lift safe-haven demand...
Thursday, 11 September 2025 05:00 WIB

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...

LATEST NEWS
GBP/USD recovers above 1.3550 on renewed USD weakness

GBP/USD rebounds from session lows and trades marginally higher on the day above 1.3550. The renewed selling pressure surrounding the USD following the inflation and Jobless Claims data help the pair gain traction in the American session. Although...

Donald Trump asks higher court to wave off order allowing Cook to remain at Fed

United States (US) President Donald Trump and his administration have formally asked the federal appeals court to pause a federal order that would allow Lisa Cook to remain at her post at the Federal Reserve (Fed) pending an official probe into...

Gold slips as traders book profits despite increasing Fed dovish bets

Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs data outweighed August's Consumer Price Index...

POPULAR NEWS
Fed seen on course for rate cuts after PPI data
Thursday, 11 September 2025 01:30 WIB

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...

Breaking News: US Annual PPI Inflation Falls to 2.6% in August, Compared to an Expected 3.3%
Wednesday, 10 September 2025 19:39 WIB

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...

US Nonfarm Payrolls benchmark revision points to 911,000 decrease in March 2025 level of employment
Tuesday, 9 September 2025 21:13 WIB

The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...

Poland Shoots Down Russian Drone, First Time NATO Member Has Shot Down Russian Drone During Ukraine War
Wednesday, 10 September 2025 18:42 WIB

Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of...