Gold prices rose 0.3% to $3,020.73 an ounce on Tuesday amid continuing uncertainty over President Trump’s planned reciprocal tariffs.
Markets expect these tariffs to slow economic growth, though Trump indicated not all threatened levies will be imposed on April 2 and some countries may receive exemptions.
Many analysts expect gold to remain supported above the $3,000 level due to expectations of Fed rate cuts and economic slowdown concerns, with traders likely viewing price dips as buying opportunities.
Investors await Friday’s PCE data, the Fed’s preferred inflation measure, for further hints on monetary policy.