Gold prices steady on Wednesday as investors braced for U.S. President Donald Trump's reciprocal tariff plans, raising concerns about inflation and economic slowdown.
Spot gold stood at $3,020.87 per ounce, while U.S. gold futures remained unchanged at $3,025.10. So far this year, gold has surged 15%, reaching an all-time high of $3,057.21 on March 20. Investors continue to see gold as a safe-haven asset during economic uncertainty.
The potential for new tariffs is fueling market uncertainty. Higher tariffs may increase costs for businesses and consumers, triggering inflation. U.S. consumer confidence has already fallen to a four-year low, raising fears of a possible recession. If inflation rises, the Federal Reserve may be forced to maintain high interest rates, which could further impact the economy.
Traders are closely watching Federal Reserve officials scheduled to speak later today. Their statements may offer insights into future monetary policy. Additionally, the U.S. Personal Consumption Expenditures (PCE) data on Friday will serve as a key indicator of inflation trends. The Fed has repeatedly emphasized that inflation control is a top priority, and any unexpected surge in prices may influence its next moves.
Beyond economic concerns, geopolitical events are also shaping investor sentiment. The United States brokered deals with Ukraine and Russia to pause military actions at sea and against energy targets. As part of the agreement, Washington will push to lift some sanctions on Moscow. This temporary truce has provided some relief to energy markets but remains a fragile situation.
Silver fell 0.3% to $33.65 per ounce
Platinum edged 0.1% lower to $975.96
Palladium remained steady at $956.12
Gold prices steady as ongoing concerns about tariffs, inflation, and geopolitical risks drive investors toward financial stability.
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Gold prices steady as investors seek financial stability amid concerns over tariffs, inflation, and geopolitical risks.
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