According to 0514 GMT, spot gold was up 1.5% to 1 3,129.33 on an Ounce t. In the past session, Boolean recorded its best day from 2023 October Chatber. US Gold Futures rose 2.2% to 1 3,145.80.
US President Donald Trump on Wednesday said he would do 125% of the tariff on Chinese imports than 104%. The world’s two largest economies are engaged in a series of tight-for-tate tariffs in the past week.
However, Trump recently decided to temporarily reduce the heavy duties imposed on many countries.
“If we enter a slow growth period, which is our base case, we feel that the rate will eventually move down and push the gold as inflation will still be with us,” said Edward Mir, an analyst of Marax, as inflation will still be with us due to tariff effects.
“Finally we will see $ 3,200 by the end of the month, if not before.”
Hedge against gold, global uncertainties and inflation, increased by more than 18% in 2025, which is mostly Trump’s tariff plans, expectations of interest rate reductions by the Federal Reserve, geographical political stress in the Middle East and Ukraine, and gold-cut exchange-traded funds.
According to the minutes of the latest meeting of the Fed, policies were almost unanimously in the warning last month that the US economy faced inflation risks with slow growth, some may be “difficult trade”.
If the Fed is forced to keep interest rates higher due to inflation pressure, a non-yielding bullion will lose its appeal.
Traders are now awaiting data from the US Consumer Price Index, which the next day, and the manufacturer Price Index print on Friday.
Spot Silver increased from 0.6% to .2 31.21 an ounce tone, platinum 0.3% to 35 935.54 and palladium shade from 1% to 922.00.
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