{"id":114170,"date":"2025-04-30T13:51:59","date_gmt":"2025-04-30T09:51:59","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=114170"},"modified":"2025-04-30T13:52:02","modified_gmt":"2025-04-30T09:52:02","slug":"gold-slips-but-still-set-for-fourth-straight-monthly-gain-amid-trade-optimism-and-key-u-s-data-awaited","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-slips-but-still-set-for-fourth-straight-monthly-gain-amid-trade-optimism-and-key-u-s-data-awaited\/04\/30\/market-updates\/","title":{"rendered":"Gold Slips, But Still Set for Fourth Straight Monthly Gain Amid Trade Optimism and Key U.S. Data Awaited"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Gold prices extended their decline on Wednesday as improved sentiment around U.S. trade policy and tariff relief reduced demand for safe-haven assets. Still, the precious metal remains on track for a <strong>nearly 6% monthly gain in April<\/strong>, marking its <strong>fourth consecutive monthly rise<\/strong>.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Spot Gold<\/strong>: \u2193 0.4% to $3,305.10\/oz<\/li>\n\n\n\n<li><strong>Gold Futures (June)<\/strong>: \u2193 0.6% to $3,314.94\/oz<br>(as of 06:30 GMT)<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Auto Tariff Relief and Trade Optimism Weigh on Gold<\/strong><\/h3>\n\n\n\n<p>U.S. President Donald Trump signed two executive orders on Tuesday designed to ease the impact of automotive tariffs. These include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tax credits<\/strong> and<\/li>\n\n\n\n<li><strong>Tariff relief on imported components<\/strong> used in U.S.-based car manufacturing.<\/li>\n<\/ul>\n\n\n\n<p>Meanwhile, <strong>Commerce Secretary Howard Lutnick<\/strong> hinted the U.S. was \u201cclose\u201d to a <strong>major trade deal<\/strong>\u2014further boosting risk sentiment and pulling investor capital away from gold.<\/p>\n\n\n\n<p>These moves signaled a temporary de-escalation in U.S.-China trade tensions, a key driver of gold&#8217;s recent rally to all-time highs.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\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>Silver Futures<\/strong>: \u2193 1.3% to $32.855\/oz<\/li>\n\n\n\n<li><strong>Platinum Futures<\/strong>: Unchanged at $979.05\/oz<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Investors Await Critical U.S. Economic Data<\/strong><\/h3>\n\n\n\n<p>Despite Tuesday\u2019s <strong>weak consumer confidence<\/strong> and <strong>soft job openings<\/strong> data (JOLTS), traders are in a holding pattern ahead of several market-moving reports:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>PCE Price Index (Fed\u2019s preferred inflation gauge)<\/strong><\/li>\n\n\n\n<li><strong>Q1 GDP Data<\/strong><\/li>\n\n\n\n<li><strong>April Nonfarm Payrolls Report (due Friday)<\/strong><\/li>\n<\/ul>\n\n\n\n<p>These releases will help shape expectations around the <strong>Federal Reserve\u2019s interest rate trajectory<\/strong>, with officials currently in a wait-and-see mode amid global economic uncertainty.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Copper Slips on Weak China PMI<\/strong><\/h3>\n\n\n\n<p>Copper prices were also under pressure after <strong>China\u2019s April manufacturing PMI<\/strong> unexpectedly fell to <strong>49.0<\/strong>, signaling contraction and marking the weakest reading since Dec. 2023.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>LME Copper<\/strong>: \u2193 0.5% to $9,379.55\/ton<\/li>\n\n\n\n<li><strong>U.S. Copper Futures (May)<\/strong>: \u2193 1.5% to $4.7875\/pound<\/li>\n<\/ul>\n\n\n\n<p>The downturn was blamed on the continued impact of <strong>U.S. tariffs on Chinese goods<\/strong>, currently standing at <strong>145%<\/strong>, which have dampened industrial output and demand forecasts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices extended their decline on Wednesday as improved sentiment around U.S. trade policy and tariff relief reduced demand for safe-haven assets. Still, the precious metal remains on track for a nearly 6% monthly gain in April, marking its fourth consecutive monthly rise. Spot Gold: \u2193 0.4% to $3,305.10\/oz Gold Futures (June): \u2193 0.6% to &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":[38,6827,49,37,36],"tags":[],"class_list":["post-114170","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\/114170","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=114170"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114170\/revisions"}],"predecessor-version":[{"id":114171,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114170\/revisions\/114171"}],"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=114170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}