Gold Rises Amid Uncertainties Surrounding U.S. Tariffs
Gold prices saw a significant uptick on Wednesday, driven by renewed investor interest in safe-haven assets amidst ongoing uncertainties surrounding U.S. trade policy.
Investors Turn to Safe-Haven Assets
During Asian trading sessions, the yellow metal rose by approximately 1% as markets assessed the impact of recent judicial decisions related to U.S. tariffs, following the Supreme Court’s annulment of a set of measures enacted by President Donald Trump.
As a result, spot gold gained 0.8% to settle at $5,186.16 per ounce by 07:46 GMT. Meanwhile, the U.S. gold futures contract for April rose by 0.6% to $5,205.
A Favorable Climate for Precious Metals
Commenting on this development, Kyle Rodda, senior market analyst at Capital.com, noted that “the return of activity in the Chinese market, combined with increasing political uncertainties in the U.S., continues to boost the appeal of gold, and to a lesser extent, silver.”
Ambiguities Surrounding U.S. Tariff Policy
To recall, the United States began implementing new temporary tariffs of 10% on imports from several countries on Tuesday. However, a White House official indicated that Washington is considering raising this rate to 15%, further fueling confusion about the administration’s tariff strategy following the decision by the U.S. Supreme Court to annul previously established blanket tariffs.
