Gold prices traded flat during Asian hours on Tuesday as safe-haven demand rose following tariff threats from former U.S. President Donald Trump. However, a stronger U.S. dollar limited upside momentum in bullion.
Spot gold edged down to $3,334.22 per ounce, while August gold futures held steady at $3,343.70.
Trump proposed tariffs as high as 36% on several major Asian and African economies but also signaled flexibility, pushing the implementation deadline to August 1, which helped ease some investor anxiety.
The U.S. dollar strengthened on the back of solid economic data and concerns that new tariffs could fuel inflation, creating headwinds for metals markets.
Elsewhere in metals:
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Platinum and silver hovered near multi-year highs,
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Copper rose slightly, buoyed by supply-side concerns.
Markets are now looking ahead to the release of the Federal Reserve’s June meeting minutes, which could offer fresh clues about the central bank’s stance on rate cuts, particularly ahead of the September policy meeting.