Gold prices stabilized in the mid-Asian session on Thursday, after touching $3,374 troy ounce amid hopes of a Fed rate cut that would strengthen the appeal of this non-interest-bearing precious metal. The US dollar, which has tended to be defensive today, is still holding back gains for the yellow metal ahead of the release of US inflation and employment data.
The market is also still seeking official clarification on whether US bullion imports will be subject to tariffs, after days of confusion that drove up premiums for gold futures in New York over spot prices in London. President Donald Trump said on Monday that there would be no levies—causing the two markets to converge—but he did not elaborate.
Source: Newsmaker.id
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