Gold prices are currently edging lower but remain elevated near record highs. Trade tensions and uncertainty surrounding the Federal Reserve’s next policy moves continue to influence market sentiment. Investors are keenly awaiting upcoming U.S. inflation data for further guidance.
- Gold edged lower to $2,900 per ounce but is near record highs.
- Trade tensions are shaping market sentiment.
- Investors are watching U.S. inflation data for insights into the Federal Reserve’s next moves.
- President Trump warned of reciprocal tariffs on Canadian dairy and lumber.
- The U.S. postponed tariffs on Canada and Mexico, while Canada’s retaliatory measures remain.
- China’s tariffs on select U.S. agricultural products took effect.
- Trump declined to clarify whether the economy is heading toward a recession or rising inflation.
- Federal Reserve Chair Jerome Powell stated policymakers see no urgency to cut interest rates.
The text suggests a mixed outlook for gold. While trade tensions and economic uncertainty typically support gold as a safe-haven asset, the Federal Reserve’s perceived lack of urgency to cut interest rates could limit potential gains. The upcoming inflation data will be crucial in determining the direction of gold prices in the near term.