Gold edges higher as Trump tariff moves keep markets on edge
edged higher on Thursday as U.S. President Donald Trump's latest tariff announcements kept markets cautious, with investors closely watching
trade negotiations
, while a slight pullback in the dollar provided additional support.
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月 *만원대 '실비보험' 최적가 비교추천! "月 보험료 낮추고, 보장은 든든하게"...
굿리치 [등록번호:제2006038313호]
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*
Spot gold
rose 0.2% to $3,321.04 per ounce, as of 0044 GMT. U.S. gold futures were up 0.3% at $3,329.10.
* The
U.S. dollar
index edged down 0.3%. A lower dollar makes gold more affordable for overseas buyers.
* On Wednesday, Trump turned his trade ire against Brazil, threatening Latin America's largest economy with a punitive 50% tariff on exports to the U.S. and ordering an unfair trade practices investigation that could lead to even higher tariffs.
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* Trump issued tariff notices for seven minor trading partners on Thursday, adding to 14 earlier in the week, including 25% levies including South Korea and Japan, effective August 1 unless trade agreements are reached before then.
* Trump also announced on Wednesday a 50% tariff on copper, saying on social media that it would be effective August 1. * Meanwhile, Trump said trade talks have been going well with China and the European Union, which is the biggest bilateral trading partner of the U.S.
* Minutes from the June 17-18 meeting revealed that only "a couple" of Federal Reserve officials believed interest rate cuts could happen as early as this month. Most policymakers, however, expect rate reductions to be appropriate later this year, citing concerns over inflationary pressures stemming from Trump's tariff policies.
* The Federal Open Market Committee (FOMC) unanimously voted to hold rates steady at its June meeting, with the next policy meeting scheduled for July 29-30.
* Spot silver edged up 0.2% at $36.41 per ounce, platinum fell 0.4% to $1,342.30 and palladium inched up 0.1% to $1,106.34. DATA/EVENTS (GMT) 0600 Germany HICP Final YY June 0900 Germany, France, UK Overall Comprehensive Risk Q3 1230 US Initial Jobless Claim 5 July, w/e 1430 US EIA-Nat Gas Chg Bcf 4 July, w/e 1430 US Nat Gas-EIA Implied Flow 4 July.
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