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18 April 2024

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Gold firms as tariff concerns continue to fuel safe-haven demand

25-03-2025 11:42 AM


Ammon News - Gold edged up on Tuesday as uncertainty over the Trump administration's tariffs next week continued to drive safe-haven demand amid fears of a U.S economic slowdown and heightened inflation.

Spot gold was up 0.1% at $3,015.66 an ounce, as of 0644 GMT. U.S. gold futures firmed 0.1% to $3,019.70.

"Uncertainty remains over the extent and scope of upcoming U.S. reciprocal tariffs ... gold continues to find some support as a hedge against potential surprises," said IG market strategist Yeap Jun Rong.

Trump's tariff policies are widely seen as likely to contribute to slowing economic growth, triggering further trade tensions, and driving up inflation.

Bullion, seen as a hedge against geopolitical and economic uncertainties, often thrives in a low-interest-rate environment.

Spot silver rose 0.3% to $33.10 an ounce, platinum firmed 0.2% to $974.65 and palladium added 0.2% to $953.53. Reuters




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