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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.

Gold bar with rising price chart alongside oil pump jack at sunset with declining price chart, illustrating the gold and oil inverse correlation
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Latest News

Gold bar resting on financial newspaper — gold price structural bid holds firm amid jobs data and deficit news
News

Jobs Beat, Ceasefire, Deficit: What It Means for Gold

April payrolls smashed forecasts, the U.S.-Iran ceasefire held under pressure, and the OMB projected a $2.065 trillion deficit. Gold barely moved. Five briefs explain why the structural case for physical gold is stronger than any single headline.

Read More »
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Videos

Why Peace Is Bullish for Gold in 2026 (And War Isn’t)

War usually pushes gold higher. But since Operation Epic Fury began in February 2026, the opposite has played out — gold sells off on escalation and rallies on peace. The reason ties back to fiscal dominance, oil prices, and the path to lower interest rates. This article breaks down the pattern, the macro logic behind it, and what it means for short-term and long-term gold investors.

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