The post Gold price flat near $3,020 as US Dollar rebounds on Trump tariff comments appeared on BitcoinEthereumNews.com.

Gold price struggles to gain traction as USD recovers despite firm support above $3,000 and cautious Fed tone. The US Dollar rebounds following reports of Trump auto tariff announcement. Solid Durable Goods data, Fed comments on sticky inflation limit upside for Bullion bulls. Gold price has flat-lined late in the North American session, capped by the recovery of the US Dollar Index (DXY), which fell to a low of 104.18 before staging a recovery. The move was sponsored by the White House, which said that President Donald Trump would announce automobile tariffs at around 22:00 GMT. At the time of writing, XAU/USD trades at $3,019, virtually unchanged. Bullion traders failed to gain traction on headlines that Trump is considering announcing limited tariff plans and automotive tariffs, according to The Wall Street Journal. In the meantime, the US Dollar Index (DXY), which tracks the performance of the Greenback against six currencies, rises 0.32% to 104.55. Even though the Gold price has remained mildly, downwardly pressured, the precious metal remains firmly above the $3,000 support level, which keeps buyers hopeful of achieving higher prices. In the data space, US Durable Goods Orders were solid in February, according to the US Department of Commerce. Aside from this, Federal Reserve (Fed) officials continued to grab the headlines with comments from the St. Louis Fed’s Alberto Mussalem and the Minneapolis Fed’s Neel Kashkari. Musalem said that the labor market is close to full employment and underscored that current policy is appropriate, given that inflation is above target. He added that the risks of inflation stalling above 2% or rising further had increased, while stating that he doesn’t foresee a recession. Earlier, Minneapolis Fed President Neel Kashkari stated that the Fed has made notable progress in curbing inflation. However, more work remains, Kashkari said, acknowledging that…

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Filed under: News - @ March 26, 2025 7:17 pm