Precious Metal Market
Gold edged lower on Wednesday as a firmer U.S. dollar and Treasury yields pressured the yellow metal, while markets continued to track the possible impact of fresh U.S. tariffs.
Gold prices edged down on Tuesday as market participants exercised caution and braced for U.S. President Donald Trump’s tariffs on Canada, Mexico, and China to go into effect within hours.
Gold prices rose on Monday, helped by a weaker dollar, while a delay in finding peace in Ukraine and concerns over the U.S. tariff policy fueled safe-haven demand for the metal.
Gold prices inched higher on Wednesday after hitting a one-week low in the previous session, as uncertainties stemming from U.S. President Donald Trump’s tariff plans dampened risk appetite and boosted demand for safe-haven bullion.
Gold prices rose on Monday as the U.S. dollar weakened, with investors awaiting further details on U.S. President Donald Trump’s tariff plans, which could escalate global trade tensions.
Gold prices slipped on Wednesday after rising to an all-time high in the previous session, as Federal Reserve Chair Jerome Powell’s hawkish comment cemented views of slower rate cuts this year, while investors awaited a key U.S. inflation report.
Gold prices edged higher on Thursday, hovering near record highs hit in the previous session, as tensions in the China-U.S. trade war lifted safe-haven demand, while investors awaited the U.S. jobs data for clues on the future direction of interest rates.
Gold prices hit a record high on Wednesday, bolstered by fears of a new trade war between the United States and China after Beijing slapped tariffs on U.S. imports in a response to new U.S. duties on Chinese goods.
Gold prices firmed on Tuesday, holding near a record peak hit in the previous session, as lingering U.S. tariff and inflation concerns boosted safe-haven demand, while focus was also on key jobs data due this week.
By Haresh Menghani
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