Market Jitters Boost Gold as US Policy Uncertainty Looms
Gold prices surged to $5,181.95 per ounce as investors sought safety amid uncertain U.S. tariff policies following a Supreme Court ruling against Trump's measures. The return of the Chinese market also buoyed interest in gold and silver. Key geopolitical discussions and potential interest rate cuts could further influence prices.
In a volatile trading session, gold prices experienced an increase as investors turned to the metal's safe-haven status amidst growing uncertainty over U.S. tariffs. This comes in the wake of a U.S. Supreme Court ruling against several of former President Donald Trump’s initiatives.
Spot gold advanced 0.7% to $5,181.95 per ounce during Asian trading, while U.S. gold futures for April delivery climbed 0.5% to $5,200.40. Market analyst Kyle Rodda noted that the reopening of Chinese markets and U.S. policy confusion maintain gold's allure.
Despite new tariffs and Federal Reserve positions suggesting little change in interest rate policy, markets anticipate rate cuts. Meanwhile, geopolitical tensions continue with talks between Iran and the U.S. in Geneva, and metals like silver, platinum, and palladium also saw price increases.
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