{"id":113760,"date":"2025-04-17T13:02:55","date_gmt":"2025-04-17T09:02:55","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=113760"},"modified":"2025-04-17T13:02:58","modified_gmt":"2025-04-17T09:02:58","slug":"gold-retreats-from-record-highs-as-powells-hawkish-tone-sparks-profit-taking","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-retreats-from-record-highs-as-powells-hawkish-tone-sparks-profit-taking\/04\/17\/market-updates\/","title":{"rendered":"Gold Retreats From Record Highs as Powell\u2019s Hawkish Tone Sparks Profit-Taking"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p><strong>Gold prices slipped in Asian trading on Thursday<\/strong>, pulling back from fresh record highs as <strong>investors booked profits<\/strong> following a sharp rally, while <strong>hawkish signals from Federal Reserve Chair Jerome Powell<\/strong> tempered bullish sentiment across precious metals.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot gold<\/strong> fell <strong>0.7% to $3,320.56\/oz<\/strong><\/li>\n\n\n\n<li><strong>Gold futures (June delivery)<\/strong> dropped <strong>0.4% to $3,334.61\/oz<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Earlier in the session, the yellow metal had touched a <strong>new all-time high of $3,356.32<\/strong>, marking its <strong>second consecutive day of record-setting gains<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Powell Pushback Halts Gold\u2019s Bullish Momentum<\/h3>\n\n\n\n<p>The sharp rally in gold had been fueled by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Geopolitical tensions<\/strong>, particularly U.S.-China trade friction and Middle East instability<\/li>\n\n\n\n<li><strong>Robust central bank purchases<\/strong><\/li>\n\n\n\n<li><strong>Persistent inflation concerns<\/strong><\/li>\n<\/ul>\n\n\n\n<p>But momentum paused as <strong>Federal Reserve Chair Jerome Powell<\/strong> signaled that:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Rate cuts are not imminent<\/strong>, due to <strong>elevated inflation<\/strong> and potential price pressures stemming from new <strong>tariff policies<\/strong><\/li>\n\n\n\n<li>The Fed would continue to adopt a <strong>\u201cwait-and-see\u201d stance<\/strong> amid ongoing economic uncertainty<\/li>\n<\/ul>\n\n\n\n<p>Despite the dip, analysts say <strong>underlying support remains strong<\/strong> as macro risks linger.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Trade Talks Offer Relief but Add Volatility<\/h3>\n\n\n\n<p>Adding to the mixed sentiment, <strong>President Trump announced &#8220;big progress&#8221;<\/strong> in <strong>U.S.-Japan trade negotiations<\/strong>, following meetings in Washington on Wednesday.<\/p>\n\n\n\n<p>While such developments signal <strong>potential de-escalation<\/strong>, they also <strong>reduce safe-haven demand<\/strong> in the short term.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Other Precious Metals Follow Gold Lower<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Silver futures<\/strong> fell <strong>1.6% to $32.470\/oz<\/strong><\/li>\n\n\n\n<li><strong>Platinum futures<\/strong> declined <strong>1.1% to $969.75\/oz<\/strong><\/li>\n<\/ul>\n\n\n\n<p>The pullback reflects broader cooling across the precious metals space, driven in part by a <strong>stronger dollar<\/strong> and expectations of <strong>persistently high U.S. interest rates<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Copper Drops on Hawkish Fed and Trade Worries<\/h3>\n\n\n\n<p><strong>Copper prices<\/strong> also moved lower on Thursday, hurt by:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A <strong>firmer U.S. dollar<\/strong>, which makes commodities priced in dollars more expensive for foreign buyers<\/li>\n\n\n\n<li>Ongoing <strong>U.S.-China tariff tensions<\/strong>, despite media reports suggesting <strong>Beijing may be open to negotiations<\/strong><\/li>\n\n\n\n<li><strong>LME copper futures<\/strong> fell <strong>0.4% to $9,172.15\/ton<\/strong><\/li>\n\n\n\n<li><strong>U.S. copper futures (May)<\/strong> sank <strong>1.6% to $4.610\/pound<\/strong><\/li>\n<\/ul>\n\n\n\n<p>With <strong>China facing up to 145% tariffs<\/strong>, the outlook for industrial demand remains clouded, even as <strong>China&#8217;s Q1 GDP exceeded expectations<\/strong> earlier in the week.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Outlook: Gold\u2019s Bull Run Pauses, Not Ends<\/h3>\n\n\n\n<p>While Thursday\u2019s dip reflects <strong>short-term profit-taking and Powell\u2019s hawkish tilt<\/strong>, the <strong>long-term drivers of gold\u2019s rally remain intact<\/strong>, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Sticky global inflation<\/strong><\/li>\n\n\n\n<li><strong>Central bank diversification<\/strong><\/li>\n\n\n\n<li><strong>Geopolitical and trade risks<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Barring a significant policy shift or a resolution to trade tensions, <strong>gold remains well-positioned to find strong support above $3,300<\/strong>, with scope to retest new highs in the coming sessions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices slipped in Asian trading on Thursday, pulling back from fresh record highs as investors booked profits following a sharp rally, while hawkish signals from Federal Reserve Chair Jerome Powell tempered bullish sentiment across precious metals. Spot gold fell 0.7% to $3,320.56\/oz Gold futures (June delivery) dropped 0.4% to $3,334.61\/oz Earlier in the session, &hellip;<\/p>\n","protected":false},"author":9,"featured_media":94938,"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":[38,6827,49,37,36],"tags":[],"class_list":["post-113760","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113760","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=113760"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113760\/revisions"}],"predecessor-version":[{"id":113761,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113760\/revisions\/113761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94938"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=113760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=113760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=113760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}