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Gold prices are holding steady at approximately $3,029 an ounce after news that President Trump’s next round of tariffs will be more focused than initially suggested. This more measured approach could reduce inflationary pressure and keep interest rates lower, which is advantageous for gold as it doesn’t yield interest.
Despite this potentially positive development, markets remain cautious about the tariffs’ broader impact and geopolitical disruptions. Chinese Premier Li Qiang stated that China is prepared for tariff shocks, while Australian Treasurer Jim Chalmers warned of the “seismic” impact of US policies on the global economy.
Gold has seen a remarkable 15% increase this year, breaking the $3,000 per ounce threshold for the first time, supported by strong central bank purchasing, expectations for interest rate cuts, and investors seeking safety amid uncertainty.
