3 days ago
Gold rate today: Gold price rises, US Dollar falls
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Gold prices rose on Thursday, supported by a pullback in the dollar and the prospect of U.S. interest rate cuts later in the year, while investors awaited more details on U.S. President Donald Trump's trade policy. Spot gold was up 0.4 per cent at $3,327.42 per ounce. U.S. gold futures gained 0.5 per cent to $3,336.40. The U.S. dollar index eased 0.2 per cent against its rivals, making gold less expensive for other currency holders."The passing of the One Big Beautiful Bill, unsettling trade (policies) and rate-cut expectations should be 'dollar negative' kind of events... gold should be favoured in that environment," said WisdomTree commodities strategist Nitesh escalated his tariff campaign on Wednesday with a 50 per cent levy on copper imports and a 50 per cent duty on goods from Brazil, both effective from August 1. Trump also issued tariff notices to seven minor trading partners, adding to the 14 issued earlier in the week, also set to take effect on August 1 unless agreements are financial markets have largely shrugged off U.S. President Donald Trump's latest tariff salvos with global stocks advancing on Thursday."The market impact of tariffs seems to lessen with each new headline. Tariff fatigue is here, and traders need a new catalyst to awaken volatility from its lull," said Matt Simpson, a senior analyst at City of the Fed's June 17-18 meeting showed that only "a couple" of officials believed that rate cuts could happen this month, with most worried over inflation tied to Trump's tariff gold, often seen as a hedge against inflation and political uncertainty, benefits from lower interest Federal Open Market Committee unanimously voted to hold rates steady at its June meeting. The next policy meeting is scheduled for July silver rose 1.1 per cent to $36.72 per ounce, platinum gained 0.5 per cent to $1,354.46, and palladium climbed 2.4 per cent to $1,131.25.A1. Gold prices are up on Thursday.A2. Spot silver rose 1.1 per cent to $36.72 per ounce, platinum gained 0.5 per cent to $1,354.46, and palladium climbed 2.4 per cent to $1,131.25.
