Gold rose on Tuesday, supported by a weaker dollar and heightened uncertainty over U.S. President Donald Trump’s tariff policies.<\/p>\n
Gp Kidd | Connect Images | Getty Images<\/p>\n
Gold\u00a0rose on Tuesday, supported by a weaker dollar and heightened uncertainty over U.S. President Donald Trump’s tariff policies ahead of the July 9 deadline, driving investors toward safe-haven assets.<\/p>\n
Spot\u00a0gold<\/a>\u00a0was up 0.4% at $3,315.26 per ounce, as of 0229 GMT, while U.S.\u00a0gold\u00a0futures<\/a>\u00a0rose 0.6% to $3,326.50.<\/p>\n “Weaker dollar and concerns about the impact if Trump’s tariff deadline is not extended are supporting\u00a0gold\u00a0at the moment,” said Nicholas Frappell, global head of institutional markets at ABC Refinery.<\/p>\n The U.S. dollar index\u00a0.DXY\u00a0fell 0.1% to a more than three-year low, making bullion more affordable for holders of other currencies.\u00a0<\/p>\n Trump\u00a0expressed\u00a0frustration with U.S.-Japan trade negotiations on Monday as U.S. Treasury Secretary Scott Bessent\u00a0warned\u00a0that countries could be notified of sharply higher tariffs, as a July 9 deadline approaches despite good-faith negotiations.<\/p>\n Meanwhile, Trump continued to\u00a0press\u00a0the Federal Reserve on Monday to ease monetary policy, sending Fed Chair Jerome Powell a list of global central bank interest rates, annotated with handwritten comments saying U.S. rates should be between Japan’s 0.5% and Denmark’s 1.75%.<\/p>\n “I think (Trump’s call to lower interest rates) is also having an impact on the market although I am a bit surprised that the market is that optimistic about rate cuts,” Frappell said.<\/p>\n Bessent\u00a0said\u00a0the administration is considering using the next expected Fed Board of Governors vacancy in early 2026 to appoint a successor to Powell.<\/p>\n Investors are closely monitoring a series of U.S. labor market reports in this holiday-shortened trading week, culminating in Thursday’s government payrolls data, for insights into the Fed’s monetary policy direction.<\/p>\n The market is currently anticipating a 67-basis-point rate cut beginning in September.\u00a0<\/p>\n Spot silver<\/a>\u00a0fell 0.8% to $35.80 per ounce, platinum<\/a>\u00a0was down 0.7% to $1,343.61, while palladium<\/a>\u00a0gained 0.9% to $1,107.25.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold rose on Tuesday, supported by a weaker dollar and heightened uncertainty over U.S. President Donald Trump’s tariff…\n","protected":false},"author":3,"featured_media":28939,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[133,64,81,69,24813,24809,170,135,24810,24811,24814,24815,18244,24812,75,4352,67,132,68],"class_list":{"0":"post-28938","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-breaking-news-markets","9":"tag-business","10":"tag-business-news","11":"tag-donald-trump","12":"tag-gold-us-dollar-spot","13":"tag-gold-comex-apr23","14":"tag-japan","15":"tag-markets","16":"tag-palladium-us-dollar-spot","17":"tag-platinum-us-dollar-spot","18":"tag-precious-metal-markets","19":"tag-precious-metals-industry","20":"tag-scott-bessent","21":"tag-silver-us-dollar-spot","22":"tag-tariff","23":"tag-trump-administration","24":"tag-united-states","25":"tag-unitedstates","26":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114776121249894634","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/28938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=28938"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/28938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/28939"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=28938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=28938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=28938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}