Gold Prices Remain Steady Amid Trump's Tariff Plans
Gold prices held steady on Wednesday following a 2% decline in the previous session, while investors focused on U.S. President Donald Trump's tariff plans, which have raised concerns about a trade war. Spot gold was little changed at $2,912.69 an ounce, by 1120 GMT, after hitting a more than one-week low on Tuesday. The recent gains, which took gold within striking distance of $3,000, appeared to run out of steam.
- The steady prices may mask the underlying concerns about inflation and trade tensions, highlighting the need for central banks to carefully manage their policies.
- Will the upcoming U.S. PCE data report provide a clearer picture of inflationary pressures, potentially influencing gold prices and interest rates in the coming weeks?