{"id":114131,"date":"2025-04-29T10:20:38","date_gmt":"2025-04-29T06:20:38","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114131"},"modified":"2025-04-29T10:20:40","modified_gmt":"2025-04-29T06:20:40","slug":"gold-slips-over-1-as-easing-tariff-concerns-pressure-safe-haven-demand","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-slips-over-1-as-easing-tariff-concerns-pressure-safe-haven-demand\/04\/29\/market-updates\/","title":{"rendered":"Gold Slips Over 1% as Easing Tariff Concerns Pressure Safe-Haven Demand"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Gold prices retreated sharply in Asian trading on Wednesday, as a slight cooling of U.S.-China trade tensions and signals of softer U.S. tariff policies sapped demand for the precious metal.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>As of 02:08 ET (06:08 GMT):<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Spot Gold<\/strong> fell <strong>1.1%<\/strong> to <strong>$3,308.93<\/strong> per ounce.<\/li>\n\n\n\n<li><strong>Gold Futures<\/strong> expiring in June declined <strong>0.8%<\/strong> to <strong>$3,322.55<\/strong> an ounce.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>This marks a notable pullback after gold recently touched record highs, buoyed by widespread economic and geopolitical concerns.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Easing Auto Tariffs, Renewed Trade Dialogue Weigh on Gold<\/h3>\n\n\n\n<p>The main catalyst for gold\u2019s retreat:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The Trump administration announced plans<\/strong> to <strong>ease the impact of auto tariffs<\/strong> by exempting duties on foreign parts used in domestically manufactured cars.<\/li>\n\n\n\n<li>According to a <strong>Wall Street Journal report<\/strong>, automakers will not be subject to extra tariffs on materials like steel and aluminum under the new plan.<\/li>\n<\/ul>\n\n\n\n<p>Further improving sentiment:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>U.S. Treasury Secretary Scott Bessent<\/strong> stated in an interview that <strong>many countries<\/strong> had submitted <strong>&#8220;very good&#8221; tariff proposals<\/strong>.<\/li>\n\n\n\n<li>He also confirmed that the <strong>U.S. is in contact with China<\/strong>, although he noted it was up to Beijing to de-escalate tensions.<\/li>\n<\/ul>\n\n\n\n<p>These developments <strong>cooled fears<\/strong> of escalating U.S.-Sino trade conflict \u2014 a major source of safe-haven demand \u2014 prompting investors to <strong>reduce gold holdings<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Broader Precious Metals and Copper Market Moves<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Silver Futures<\/strong> slipped <strong>0.4%<\/strong> to <strong>$32.862<\/strong> an ounce.<\/li>\n\n\n\n<li><strong>Platinum Futures<\/strong> were flat at <strong>$993.20<\/strong> an ounce.<\/li>\n<\/ul>\n\n\n\n<p>Meanwhile, <strong>copper prices<\/strong> were subdued:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Benchmark London Metal Exchange Copper Futures<\/strong> were unchanged at <strong>$9,392.20<\/strong> per ton.<\/li>\n\n\n\n<li><strong>Copper Futures expiring in May<\/strong> fell <strong>0.8%<\/strong> to <strong>$4.8620<\/strong> a pound.<\/li>\n\n\n\n<li>China\u2019s government has <strong>pledged support<\/strong> for businesses hit by tariffs but <strong>stopped short of announcing new stimulus<\/strong>, adding to market caution.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Key U.S. Economic Data Awaited<\/h3>\n\n\n\n<p>Investor focus now turns to critical U.S. economic indicators:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>March JOLTS job openings<\/strong> report (later today).<\/li>\n\n\n\n<li><strong>April Nonfarm Payrolls<\/strong> report (Friday).<\/li>\n\n\n\n<li><strong>First-quarter GDP<\/strong>.<\/li>\n\n\n\n<li><strong>March PCE Price Index<\/strong> \u2014 the Federal Reserve\u2019s preferred inflation measure.<\/li>\n<\/ul>\n\n\n\n<p>These data releases are likely to shape expectations for <strong>Fed interest rate policy<\/strong> in the coming months.<\/p>\n\n\n\n<p>The Federal Reserve has so far <strong>maintained a wait-and-see approach<\/strong>, citing global trade uncertainty and the evolving inflation outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices retreated sharply in Asian trading on Wednesday, as a slight cooling of U.S.-China trade tensions and signals of softer U.S. tariff policies sapped demand for the precious metal. As of 02:08 ET (06:08 GMT): Spot Gold fell 1.1% to $3,308.93 per ounce. Gold Futures expiring in June declined 0.8% to $3,322.55 an ounce. &hellip;<\/p>\n","protected":false},"author":9,"featured_media":105524,"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-114131","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\/114131","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=114131"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114131\/revisions"}],"predecessor-version":[{"id":114132,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114131\/revisions\/114132"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105524"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}