Gold held steady early in the Asian session as traders assessed geopolitical developments and tariffs. On the one hand, President Trump said there was a "high probability" he would soon meet with Russian President Putin to discuss the war in Ukraine, which may reduce the precious metal's appeal as a safe-haven asset.
On the other hand, Trump doubled tariffs on India to 50%, while India criticized the new tariffs, which could escalate US-India trade tensions. "The coming hours and days may play a key role in shaping the dynamics of the [gold] market," said Samer Hasn, senior market analyst at XS.com, in an email. Spot gold prices rose 0.1% to $3,368.47/oz. (alg)
Source: Dow Jones Newswires
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