Trump's Tariff Uncertainty Drives Gold to Continue Rally
Gold prices rose for the fifth consecutive day, driven by increased demand for safe-haven assets amid uncertainty over US trade policy and lingering geopolitical tensions over Iran. Investors tended to increase defensive positions as the direction of US tariff policy changed again and Middle East risks persisted.
Gold traded near $5,240/oz early in the session, having surged more than 7% in the previous four sessions. The market remained in a state of confusion after US President Donald Trump announced he would raise global import duties to 15%, following a Supreme Court ruling that rejected the reciprocal tariff scheme he had previously pushed for.
Geopolitically, investors' attention was focused on the Middle East ahead of the resumption of US-Iran nuclear talks. Trump dismissed reports that the Pentagon feared a prolonged military campaign would be difficult, but maintained his preference was for a deal. The combination of uncertain diplomacy and the risk of escalation kept safe-haven flows strong.
At 7:40 a.m. Singapore time, gold rose 0.2% to $5,238.65/oz. Silver strengthened 0.3% to $88.49, while platinum rose 0.6% and palladium gained 0.5%. The Bloomberg Dollar Spot Index closed up 0.1% in the previous session—but the dollar's strength wasn't enough to erase the safe-haven momentum in precious metals. (alg)
Source: Newsmaker.id
