The post Gold price remains close to all-time high amid Trump-related anxieties, softer USD appeared on BitcoinEthereumNews.com.

Gold price attracts buyers for the second straight day amid a combination of supportive factors. Concerns about Trump’s trade tariff and a modest USD weakness underpin the XAU/USD pair. Reduced Fed rate cut bets warrant some caution before positioning for a further positive move. Gold price (XAU/USD) trades with a mild positive bias during the Asian session on Thursday and looks to build on the previous day’s goodish bounce from the $2,864 area touched in reaction to hotter US consumer inflation figures. US President Donald Trump’s new tariffs on commodity imports sparked fears about a global trade war, which continue to act as a tailwind for the safe-haven bullion. Furthermore, a modest US Dollar (USD) downtick turns out to be another factor underpinning demand for the commodity. Meanwhile, signs of still sticky inflation in the US suggest that the Federal Reserve (Fed) will stick to its hawkish stance and hold interest rates steady for an extended period. This led to the overnight spike in the US Treasury bond yields, which should limit any meaningful USD losses. Apart from this, a generally positive risk tone might contribute to capping any further gains for the non-yielding Gold price. Traders now look to the release of the US Producer Price Index (PPI) for some impetus later during the North American session.  Gold price continues to attract haven flows amid global trade war fears The initial market reaction to the latest US consumer inflation figures turned out to be short-lived amid worries over US President Donald Trump’s trade tariffs, which continue to benefit the safe-haven Gold price. Trump signed executive orders on Monday to impose 25% tariffs on steel and aluminum imports into the US and also promised broader reciprocal tariffs to match the levies other governments charge on US products. The US Bureau…

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Filed under: News - @ February 13, 2025 4:27 am