{"id":110894,"date":"2025-01-23T11:08:57","date_gmt":"2025-01-23T07:08:57","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=110894"},"modified":"2025-01-23T11:08:59","modified_gmt":"2025-01-23T07:08:59","slug":"gold-holds-near-three-month-highs-as-dollar-weakens-copper-declines-on-tariff-concerns","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-holds-near-three-month-highs-as-dollar-weakens-copper-declines-on-tariff-concerns\/01\/23\/market-updates\/","title":{"rendered":"Gold Holds Near Three-Month Highs as Dollar Weakens; Copper Declines on Tariff Concerns"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Gold prices remained steady on Thursday, hovering near three-month highs, as the U.S. dollar softened following President Donald Trump&#8217;s cautious approach to implementing tariffs early in his second term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Gold Market Highlights<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot Gold:<\/strong> Unchanged at $2,755.14, near its highest level since late October.<\/li>\n\n\n\n<li><strong>Gold Futures (Feb):<\/strong> Down 0.3% to $2,763.39 an ounce by 01:35 ET (06:35 GMT).<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Safe-Haven Appeal and Inflation Concerns<\/strong><\/h4>\n\n\n\n<p>Gold&#8217;s three-day rally earlier this week was driven by safe-haven demand amid uncertainty surrounding Trump&#8217;s trade policies. His tariff plans, expected to elevate U.S. inflation, continue to support gold prices as the metal is traditionally viewed as a hedge against inflation.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Weak Dollar Supports Gold Prices<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>U.S. Dollar Index<\/strong> remained slightly weaker in Asian trade, following a sharp decline on Monday.<\/li>\n\n\n\n<li>Trump&#8217;s hesitation in implementing tariffs has pressured the dollar, indirectly supporting gold prices.<\/li>\n\n\n\n<li>The market anticipates higher U.S. inflation and gradual implementation of tariffs, both of which could impact the dollar&#8217;s trajectory.<\/li>\n<\/ul>\n\n\n\n<p>A weaker dollar benefits gold, making it more affordable for international buyers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Other Precious Metals<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Platinum Futures:<\/strong> Fell 0.7% to $964.30 an ounce.<\/li>\n\n\n\n<li><strong>Silver Futures:<\/strong> Declined 0.6% to $31.218 an ounce.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Copper Prices Decline Amid Tariff Fears<\/strong><\/h3>\n\n\n\n<p>Copper prices continued to slide as investors weighed the potential economic impact of Trump&#8217;s tariff plans.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Market Impact<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>LME Benchmark Copper Futures:<\/strong> Fell 0.8% to $9,167.50 a ton.<\/li>\n\n\n\n<li><strong>February Copper Futures:<\/strong> Dropped 0.9% to $4.2568 a pound.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>China&#8217;s Role in Copper Demand<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Concerns over reduced demand from <strong>China<\/strong>, the largest consumer of copper, are exacerbating the decline.<\/li>\n\n\n\n<li>Tariff-related economic strain, coupled with slowing industrial production in China, raises fears of weaker global demand for industrial metals.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Outlook<\/strong><\/h3>\n\n\n\n<p>While gold prices remain supported by safe-haven demand and inflation concerns, the market will closely monitor Trump&#8217;s tariff decisions and their broader economic implications. For industrial metals like copper, prolonged uncertainty over U.S.-China trade relations and slowing global growth may continue to exert downward pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices remained steady on Thursday, hovering near three-month highs, as the U.S. dollar softened following President Donald Trump&#8217;s cautious approach to implementing tariffs early in his second term. Gold Market Highlights Spot Gold: Unchanged at $2,755.14, near its highest level since late October. Gold Futures (Feb): Down 0.3% to $2,763.39 an ounce by 01:35 &hellip;<\/p>\n","protected":false},"author":9,"featured_media":109830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[],"class_list":["post-110894","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=110894"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110894\/revisions"}],"predecessor-version":[{"id":110896,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110894\/revisions\/110896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/109830"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=110894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=110894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=110894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}