Gold holds above $3,200; bullish bias remains amid trade uncertainty
The post Gold holds above $3,200; bullish bias remains amid trade uncertainty appeared on BitcoinEthereumNews.com.
Gold price regains positive traction as US tariff uncertainty continues to underpin safe-haven assets. Bets for aggressive Fed rate cuts in 2025 keep the USD depressed and also benefit the XAU/USD pair. Trump’s temporary tariff reprieve improves global risk sentiment and might cap the commodity. Gold price (XAU/USD) attracts some dip-buyers following the previous day’s modest pullback from the record high and trades comfortably above the $3,200 mark during the Asian session on Tuesday. The rapid escalation of the trade war between the US and China – the world’s two largest economies – keeps market participants on the edge. Adding to this, the uncertainty over US President Donald Trump’s tariffs and their impact on the global economy turn out to be key factors that continue to underpin the safe-haven bullion. Meanwhile, the US Dollar (USD) struggles to register any meaningful recovery from its lowest level since April 2022 touched last Friday as concerns about the potential economic fallout from tariffs ignited recession fears. Furthermore, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle soon keep the USD bulls on the defensive, and lend additional support to the non-yielding Gold price. However, Trump’s temporary tariff reprieve remains supportive of the upbeat market mood and might cap the XAU/USD pair. Daily Digest Market Movers: Gold price continues to attract safe-haven flows amid rising US-China trade tensions Concerns about the potential economic fallout from US President Donald Trump’s aggressive trade policies continue to underpin safe-haven assets. Meanwhile, China increased tariffs on US imports to 125% on Friday in retaliation to Trump’s decision to raise duties on Chinese goods to an unprecedented 145%. This keeps the Gold price close to the all-time peak touched on Monday. The US still imports several hard-to-replace materials from China and the developments seem to have weakened…
Filed under: News - @ April 15, 2025 4:29 am