Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices edged lower in Asian trading on Friday as:
- The U.S. dollar strengthened ahead of key inflation data.
- Investors awaited the U.S. PCE price index, the Federal Reserve’s preferred inflation gauge, for further rate signals.
At 01:44 ET (06:44 GMT):
- Spot gold fell 0.4% to $2,864.94 per ounce.
- Gold futures (April) lost 0.6% to $2,877.80 per ounce.
Gold Set for a 2% Monthly Gain Amid Trade Tensions
Despite Friday’s decline, gold remains up nearly 2% this month, driven by:
✅ Safe-haven demand amid U.S. trade tariff concerns.
✅ Uncertainty over Federal Reserve interest rate policy.
✅ Worries that tariffs could fuel inflation risks while slowing economic growth.
Trump’s Tariff Plans Fuel Investor Caution
Investors grew wary after Trump reaffirmed plans to:
- Impose a 25% tariff on Mexican and Canadian imports.
- Introduce a fresh 10% tariff on Chinese goods.
🔹 ING analysts noted: “Concerns that tariffs might intensify inflation risks as economic growth slows are boosting demand for safe-haven assets like gold.”
🔹 They added: “With tariff concerns likely to linger, gold will continue to benefit from heightened uncertainty.”
Other Precious Metals Decline Amid Dollar Strength
📉 Platinum Futures fell 0.4% to $948.55 an ounce.
📉 Silver Futures dropped 1% to $31.495 an ounce.
Copper Falls on Tariff Concerns, But China Stimulus Could Limit Losses
Copper prices declined further as Trump’s trade policies raised fears of slowing global growth.
📌 In early February, Trump announced a 25% tariff on all steel and aluminum imports, set to take effect on March 12.
🔹 ING analysts commented:
- “Tariffs are bearish for industrial metals as global growth slows.”
- “However, expectations that Beijing may introduce more aggressive stimulus measures could limit the downside for metal prices.”
At Friday’s session:
📉 London Metal Exchange Copper Futures dropped 0.7% to $9,354.40 per ton.
📉 April Copper Futures slid 1% to $4.549 per pound.
💡 The immediate focus remains on China’s potential stimulus measures, which could support demand for industrial metals despite global trade concerns.
