{"id":111325,"date":"2025-02-03T11:46:17","date_gmt":"2025-02-03T07:46:17","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=111325"},"modified":"2025-02-03T11:46:20","modified_gmt":"2025-02-03T07:46:20","slug":"gold-retreats-from-record-highs-as-dollar-soars-on-trump-tariffs","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-retreats-from-record-highs-as-dollar-soars-on-trump-tariffs\/02\/03\/economic-reports\/","title":{"rendered":"Gold Retreats from Record Highs as Dollar Soars on Trump Tariffs"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p><strong>Gold prices fell on Monday<\/strong>, pulling back from record highs as the <strong>U.S. dollar surged<\/strong> following <strong>President Donald Trump\u2019s new trade tariffs<\/strong> on <strong>China, Canada, and Mexico<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Reaction:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot gold<\/strong> dropped <strong>0.7%<\/strong> to <strong>$2,780.56 per ounce<\/strong><\/li>\n\n\n\n<li><strong>Gold futures (April contract)<\/strong> declined <strong>0.8%<\/strong> to <strong>$2,810.30 per ounce<\/strong><\/li>\n\n\n\n<li>Spot gold had hit a <strong>record high of $2,817.57<\/strong> last week<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why Did Gold Drop?<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Stronger U.S. dollar<\/strong>: The <strong>greenback surged<\/strong> to a near <strong>one-month high<\/strong>, nearing its highest level in over <strong>two years<\/strong>, pressuring commodities priced in dollars<\/li>\n\n\n\n<li><strong>Inflation fears<\/strong>: Trump&#8217;s <strong>tariffs (25% on Canada &amp; Mexico, 10% on China)<\/strong> could fuel <strong>higher U.S. inflation<\/strong>, reducing the <strong>likelihood of aggressive Federal Reserve rate cuts<\/strong>, a key driver for gold<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Broader Metal Market Impact:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Silver futures<\/strong> fell <strong>1.5%<\/strong> to <strong>$31.795 per ounce<\/strong><\/li>\n\n\n\n<li><strong>Platinum futures<\/strong> declined <strong>1.9%<\/strong> to <strong>$1,024.0 per ounce<\/strong><\/li>\n\n\n\n<li><strong>Copper futures<\/strong> dropped <strong>1.1%<\/strong> to <strong>$8,944.25 per ton<\/strong>, pressured by <strong>weak Chinese PMI data<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>JPMorgan\u2019s Bullish Gold Outlook<\/strong><\/h3>\n\n\n\n<p>Despite the pullback, <strong>JPMorgan reiterated its bullish view<\/strong>, forecasting:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Gold at $3,000 per ounce by late 2025<\/strong><\/li>\n\n\n\n<li><strong>Lower U.S. interest rates<\/strong> and a <strong>stabilizing economy<\/strong> to drive demand<\/li>\n\n\n\n<li>JPMorgan will <strong>deliver $4 billion worth of gold<\/strong> against futures contracts in February<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Looking Ahead:<\/strong><\/h3>\n\n\n\n<p>While <strong>short-term pressure<\/strong> from the strong dollar remains, <strong>ongoing economic uncertainty<\/strong> and <strong>risk aversion<\/strong> could keep gold demand <strong>resilient<\/strong> in the long run. Traders will closely watch <strong>Fed rate expectations<\/strong> and <strong>further trade tensions<\/strong> for market direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices fell on Monday, pulling back from record highs as the U.S. dollar surged following President Donald Trump\u2019s new trade tariffs on China, Canada, and Mexico. Market Reaction: Spot gold dropped 0.7% to $2,780.56 per ounce Gold futures (April contract) declined 0.8% to $2,810.30 per ounce Spot gold had hit a record high of &hellip;<\/p>\n","protected":false},"author":9,"featured_media":104608,"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":[6827,49],"tags":[6923,7603],"class_list":["post-111325","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","tag-ecb","tag-gold-prices"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111325","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=111325"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111325\/revisions"}],"predecessor-version":[{"id":111327,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/111325\/revisions\/111327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104608"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=111325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=111325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=111325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}