Gold prices has entered a brief phase of upside consolidation as buyers take a breather before the next leg higher. The buying interest around the bright metal remains unabated amid sustained US Dollar (USD) weakness as increased odds of further interest rate cuts by the Federal Reserve (Fed) due to US economic slowdown concerns.
tradewar
Gold hits record high on Trump’s tariffs
Gold News Todays: Gold rose to a new all-time high after US President Donald Trump imposed tariffs on Canada, Mexico and China, driving investors to safe havens, ING’s commodity analysts Warren Patterson and Ewa Manthey notes.
Gold Rises as Trump hints at imposing Tariffs on China
Gold Outlook for Today: Gold’s price (Yellow Metal) sees its upside move continue for this week after an already upbeat Tuesday when booking over 1.20% gains. The bullish momentum is fueled by new US President Donald Trump’s comments on tariffs. This time, a 10% levy on Chinese goods triggered the leg higher in Bullion.
WTI trades around $76.00, experiences volatility in the wake of executive orders by Trump
West Texas Intermediate (WTI) Oil price ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday. CrudeOil markets experienced significant volatility as traders assessed a series of executive orders issued by US President Donald Trump shortly after his inauguration.
