Gold Steady as Traders Mull Prospect of Targeted US Tariffs

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Yihui Xie and Jack Ryan

Mon, Mar 24, 2025, 3:55 AM 1 min read

(Bloomberg) -- Gold was dependable aft a study indicating that the adjacent circular of President Donald Trump’s tariffs would beryllium much measured than antecedently suggested.

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Bullion traded astir $3,029 an ounce, not acold beneath a grounds precocious reached connected Thursday. President Trump’s tariff bundle is shaping up arsenic much focused than the sprawling, afloat planetary effort helium had different mused about, officials acquainted with the substance say. That could mean little inflationary unit and little involvement rates, a boon for gold, which does not carnivore interest.

Chinese Premier Li Qiang said Asia’s largest system is inactive prepared for tariff shocks and Australian Treasurer Jim Chalmers warned astir the “seismic” interaction of US policies connected the planetary economy.

The marketplace remains wary astir the fallout from the tariffs, however, arsenic good arsenic Trump’s upending of the geopolitical order. Gold has benefited, rallying 15% truthful acold this twelvemonth and rising supra $3,000 an ounce for the archetypal time, arsenic investors flocked to the safe-haven asset. Strong central-bank buying and expectations for complaint cuts person besides aided the precious metal.

Spot golden traded astatine $3,029.88 an ounce arsenic of 10:54 a.m. successful London, aft adding 1.3% past week. The Bloomberg Dollar Spot Index dipped 0.2% aft rallying 0.8% implicit the erstwhile 3 sessions. Silver and palladium moved higher, portion platinum edged lower.