Money Street News


(Bloomberg) — Gold held a two-day advance as traders focused on tariff threats from President Donald Trump and the outlook for US monetary policy.

Most Read from Bloomberg

Bullion traded above $3,330 an ounce, after posting modest gains on Wednesday and Thursday that pared a weekly drop. Rising trade tensions underscored gold’s haven appeal after the president proposed a slew of tariffs this week, including moves against Canada and Brazil. In addition, he announced a substantial levy on imports of copper which will come into effect on Aug. 1 alongside other country-specific duties.

Elsewhere, investors were considering the outlook for US interest rates. Policymakers have held borrowing costs steady this year, though a divide has emerged over how many rate cuts officials expect this half. Fed Bank of San Francisco President Mary Daly said she still views two reductions as likely, with a greater chance that the price effects from tariffs may be more muted than anticipated. Lower borrowing costs tend to benefit bullion.

Gold has rallied more than a quarter this year, setting a record above $3,500 an ounce in April. Trump’s erratic efforts to overhaul trade policies continue to serve as a steady source of uncertainty for markets, spurring investors to seek safety in the metal amid worries about the long-term impact on the global economy. The advance has also been aided by heightened geopolitical tensions and central-bank buying.

Spot gold was 0.2% higher at $3,334.27 an ounce at 8:15 a.m. in London. The Bloomberg Dollar Spot Index was up 0.2%. Silver rose, while platinum and palladium fell.

Most Read from Bloomberg Businessweek

©2025 Bloomberg L.P.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.


No, thank you. I do not want.
100% secure your website.