<\/p>\n\n\n\n
Gold prices held steady in Asian trade on Tuesday after U.S. President Donald Trump\u2019s latest tariff threats spurred some safe-haven demand. However, a recovery in the dollar limited further gains in metal markets, as traders remained cautious amid trade uncertainty.<\/p>\n\n\n\n
Gold prices rose on Monday following Trump\u2019s release of letters outlining steep tariffs against several major Asian and African countries. These included a 25% tariff on South Korea, Japan, Malaysia, and Kazakhstan, a 30% duty on South Africa, a 32% duty on Indonesia, a 35% levy on Bangladesh, and a 36% levy on Thailand. However, Trump also signaled a willingness to engage in further trade talks, postponing the tariff deadline to August 1. This shift sparked some optimism, boosting risk appetite in the market, as Asian stocks advanced and Wall Street futures reversed early losses.<\/p>\n\n\n\n
Trump’s comments about being “not 100% firm” on the deadline added to the notion that the tariffs might not be fully implemented, which helped temper some of the negative market sentiment. Despite this, the tariffs announced caused a temporary rise in gold prices as investors sought safe havens amidst the uncertainty.<\/p>\n\n\n\n
While the gold market benefited from Trump\u2019s tariff threats, the strengthening U.S. dollar capped the upside. The greenback firmed on the back of Trump\u2019s tariff comments, and stronger-than-expected U.S. economic data further fueled expectations that the Federal Reserve would not cut interest rates in the near term. The strength in the dollar typically weighs on metal prices, as it makes commodities priced in dollars more expensive for foreign buyers.<\/p>\n\n\n\n
Spot gold fell slightly to $3,334.22 an ounce, while gold futures for September were flat at $3,343.70\/oz. However, the yellow metal remained in proximity to its $3,500 record high reached earlier this year.<\/p>\n\n\n\n
Platinum futures rose 0.1% to $1,383.75\/oz, while silver futures gained 0.3% to $37.008\/oz. Both metals are trading close to recent multi-year highs, driven by a combination of safe-haven demand and strong industrial demand.<\/p>\n\n\n\n
In the industrial metals market, benchmark copper futures on the London Metal Exchange rose 0.2% to $9,839.80 a ton, while U.S. copper futures gained 0.4% to $5.0260 a pound, supported by demand optimism amid a recovering global economy.<\/p>\n\n\n\n
Investors are awaiting the release of the minutes from the Federal Reserve\u2019s June meeting, which are expected later this week. The minutes will likely provide further insight into the Fed\u2019s stance on interest rates. Despite a largely hawkish tone during the meeting, the minutes could offer clues on whether the central bank will opt for any future easing in response to ongoing trade tensions and potential inflationary pressures from tariffs.<\/p>\n\n\n\n
As long as the dollar remains firm, the upside for gold and other precious metals may be limited, but any signs of a dovish Fed stance could revive demand for gold as a hedge against economic uncertainty. The market is likely to remain volatile, especially with Trump\u2019s looming tariff decisions and the ongoing trade negotiations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices held steady in Asian trade on Tuesday after U.S. President Donald Trump\u2019s latest tariff threats spurred some safe-haven demand. However, a recovery in the dollar limited further gains in metal markets, as traders remained cautious amid trade uncertainty. Trump\u2019s Tariff Threats and Postponement of Deadline Gold prices rose on Monday following Trump\u2019s release …<\/p>\n","protected":false},"author":9,"featured_media":103762,"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":[38,6827,49,36],"tags":[],"class_list":["post-116316","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116316","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=116316"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116316\/revisions"}],"predecessor-version":[{"id":116317,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116316\/revisions\/116317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/103762"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=116316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=116316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=116316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}