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Gold

Precious Metal Gains Ground as Global Trade Tensions Intensify

Precious Metal Gains Ground as Global Trade Tensions Intensify

Gold prices rose 1% to $3,013.34 on Tuesday, rebounding from Monday’s low, supported by global trade war tensions and a weaker dollar.

China has refused to bow to what it called U.S. “blackmail” while the EU offered a “zero-for-zero” tariff deal while imposing 25% tariffs on some U.S. imports.

Despite the recent fluctuations, gold remains 15% higher for the year, having reached a record high of $3,167.57 on April 3.

Traders expect significant Fed rate cuts this year, with markets closely watching Wednesday’s Fed minutes release.

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