Gold Prices Edge Higher Amid Trade Tensions and Economic Data – Business – Gold and Currency

Gold costs noticed a modest rise on Monday, recovering barely after a greater than 1% drop within the earlier session. Market members are intently awaiting additional particulars on U.S. President Donald Trump’s reciprocal tariff plans, which may escalate world commerce tensions.

Key Particulars:

• Spot gold elevated by 0.1% to $2,885.95perounceasof0016GMT\mathrm{.}Themetalhadpreviouslyreachedarecordhighof$2,942.70 on February 11.

• U.S. gold futures, nevertheless, dipped 0.1% to $2,897.10.

Commerce Tensions and Financial Indicators:

President Trump reiterated his tariff threats on Friday, asserting that levies on vehicles may very well be imposed as early as April 2. This follows studies from his cupboard members, due by April 1, outlining choices for a spread of import duties as a part of his broader technique to reshape world commerce.

In the meantime, U.S. retail gross sales information launched on Friday confirmed a major drop in January, marking the biggest decline in practically two years. This factors to a pointy slowdown in financial progress initially of the primary quarter.

Federal Reserve Outlook:

Regardless of the financial slowdown, merchants anticipate that the Federal Reserve will maintain off on chopping rates of interest till the second half of the yr, citing considerations over excessive inflation.

Geopolitical Developments:

U.S. Secretary of State Marco Rubio said on Sunday that Ukraine and Europe could be integral to any “actual negotiations” geared toward ending Moscow’s battle. His feedback counsel that upcoming U.S.-Russia talks this week will function a gauge of Russian President Vladimir Putin’s dedication to peace.

Different Valuable Metals:

• Spot silver fell 0.2% to $32.08 an oz. after reaching its highest degree since October 31, 2024, on Friday. Analysts counsel that silver buyers could also be eyeing a problem to a 10-year excessive, pushed by components just like these pushing gold to file ranges.

• Platinum rose 0.3% to $982.55,while\ast \ast palladium\ast \ast climbed1.3$974.08.

Market members stay centered on commerce developments, financial information, and geopolitical dynamics as they assess the outlook for treasured metals.

Observe Emirates 24|7 on Google Information.