Gold steady as U.S.–EU tariff truce boosts risk appetite ahead of Fed meeting

Gold was little‑changed around $3 336 per ounce after slipping to its weakest level since mid‑July, with gains capped by improved risk appetite stemming from a framework deal under which the U.S. and EU agreed to impose a 15 % tariff on most EU goods, averting a bigger trade war.

UBS analyst Giovanni Staunovo said the pact dampened demand for safe‑haven assets but also eased inflation uncertainty, potentially giving the Federal Reserve room to cut interest rates later, which is usually supportive for gold.

Investors are now looking to the Fed’s meeting later this week, where rates are expected to remain at 4.25 %–4.50 %”