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Gold Takes a Breather Near $2,940 as Trump’s Tariff Deadline Approaches

Gold prices dipped slightly on Tuesday but remained near their all-time high as fears of a trade war driven by President Trump’s tariff plans continued to fuel safe-haven demand.

After reaching $2,956.15 on Monday—its eleventh record high this year—spot gold fell 0.4% to $2,938.63.

Analysts attribute the current range-bound trading to uncertainty about potential tariffs on Canadian and Mexican imports, which could further widen the price spread between U.S. and London markets.

Investors are now awaiting Friday’s PCE inflation report for insights into the Federal Reserve’s future rate decisions.

Original Source: Reuters

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