Gold prices fell on Friday when investors adjusted their risk point of view after US President Donald Trump’s announcement of tariff measures, which expressed further concern over the potential economic slowdown, giving further explanation on market trends.
Spot gold declined by 0.3 %, which reached 10 3,103.00 per ounce via 0510 GMT. Nevertheless, the precious metal continued on the track for the fifth weekly benefit, which helps him be safe. Earlier this week, gold reached three record heights, which is happy with the growing market uncertainty.
In the last session, the US gold futures reached 0.1 percent after a lack of sales in the previous session due to a widespread market sales due to Trump’s import tax sales, which reached $ 3,123.40. The bridgeback came a few hours after reaching a record height of $ 3,167.57.
Elias Spyk, the head of the Global Macro, said: “The gold rally has come out between the price uncertainty of the starting gold, but it loses when the markets learn how to cost the dangers.” He added that Trump’s prices have made it clear the path, which has reduced some of the “market confusion” premiums.
Trump announced a 10 % baseline tariff on all imports to the United States and increased duties on some major trade partners. In response, US trade partners have threatened to increase the trade war, which has raised concerns about rising prices in the world’s largest consumer market.
The market is now awaiting a US non -form Paulus report, which can provide insights on the Federal Reserve’s interest rate route and its potential impact on gold prices.
Meanwhile, other precious metals saw mixed movements: Spot Silver dropped by 1 % to $ 31.54 an ounce, platinum 0.2 percent to $ 950.85, and palidium increased by 0.4 percent to $ 932.00.
