News
Gold in holding pattern amid tariff policy uncertainty
Gold prices steadied after President Trump exempted bullion from U.S. tariffs, but traders remain cautious pending official confirmation. The market had been rattled by last week’s surprise tariff ruling, causing volatility in futures and spot prices.
Gold held losses after President Trump said bullion imports won’t face U.S. tariffs, though traders await official confirmation. Spot gold hovered near $3,345/oz after a 1.6% drop triggered by Trump’s social media post.
Last week, a surprise U.S. customs ruling had imposed tariffs, causing chaos and widening the gap between futures and spot prices. The spread has since narrowed but uncertainty lingers, keeping markets on edge.
Compare Top Forex brokers and start trading and investing with a trusted partner
Gold has surged over 25% this year, driven by safe-haven demand and central bank buying. Meanwhile, the dollar held gains ahead of U.S. inflation data, which could hint at the Fed’s rate path.
Trump also extended the China tariff truce by 90 days, easing trade war fears and dampening gold’s appeal. Silver rose, platinum fell, and palladium was flat.
Stay ahead with weekly market updates
Get concise broker news, reviews, and risk notes in your inbox.
Related News
Gold Bounces Back as Dip-Buyers Seize Opportunity Following Six-Day SlideGold rebounded above $4,850 on Thursday as dip-buyers entered the market following a six-day losing streak, despite rising oil prices from Middle East tensions and the Federal Reserve’s hawkish rate stance signaling just one cut this year.
Gold Rally Halts as Traders Cash In on Tariff-Driven SurgeGold snapped a four-day winning streak as profit-taking kicked in following a 7% rally driven by trade war fears and Middle East tensions. Analysts see the dip as normal volatility, with geopolitical risks and tariff confusion still supporting prices longer-term.
Gold Holds Firm Above $5,000 on Rising US Rate Cut BetsGold prices consolidated above the key $5,000 level as weak U.S. retail sales data strengthened the argument for Federal Reserve rate cuts, lowering bond yields and pressuring the dollar.
Editorial Note
This article aggregates publicly available market and broker updates from the source CMS. Verify time-sensitive data directly with official sources before making decisions.
Last update: Aug 12, 2025