Gold price (XAU/USD) builds on the previous day's breakout momentum above the $2,900 round-figure mark and gains strong follow-through positive traction during the Asian session on Tuesday. US President Donald Trump's latest tariffs on commodity imports reignite global trade war fears and lift the safe-haven bullion to a fresh record high, around the $2,942-2,943 area in the last hour. Furthermore, expectations that Trump's protectionist policies would boost inflation turn out to be another factor that underpins the precious metal's status as a hedge against rising prices. Meanwhile,...
The dollar index maintained its recent rally, holding above 108.3 on Tuesday, as President Donald Trump signed an executive order imposing 25% tariffs on steel and aluminum imports "without exceptions or exemptions." Trump also revealed plans to introduce reciprocal tariffs on other countries in the coming days. This move raised concerns about a global trade war that could fuel inflation, potentially limiting the Federal Reserve's ability to cut interest rates further. Traders were also preparing for Fed Chair Jerome Powell's testimony before Congress on Tuesday and Wednesday, hoping for...
The Japanese Yen (JPY) attracted some safe-haven flows during the Asian session on Tuesday in reaction to US President Donald Trump's new tariffs on steel and aluminum imports. Apart from this, the Bank of Japan's (BoJ) plans to hike interest rates further turn out to be another factor that underpins the JPY. This, in turn, keeps the USD/JPY pair below the 152.00 mark and a confluence support-breakpoint-turned-resistance retested on Monday. Meanwhile, Trump's no-exemption tariffs on commodity imports effectively end deals with the European Union, the United Kingdom, Japan, and other...
Gold price builds on its positive move beyond the $2,900 mark and hits a fresh record high during the Asian session on Tuesday as Trump's trade tariffs continue to boost demand for the safe-haven bullion. Bulls seem unaffected by expectations that the Fed would stick to its hawkish stance and a modest USD strength.Risk aversion keeps fueling Gold demand, with the bright metal conquering the $2,900 threshold on Monday. Demand for safety was boosted by comments from United States (US) President Donald Trump, who pledged to impose more tariffs over the weekend. Speaking to reporters on Air...