Gold Steady as Iran Sanctions and US Tariffs Remain in Focus
Gold prices held steady in early trading, as market participants weighed geopolitical tensions in the Middle East and the impact of US tariffs on global trade. Gold held around $5,170 per ounce after ending the previous session with a 0.4% gain, indicating that defensive interest remained intact amid headline volatility.
Safe-haven sentiment was supported after the US imposed sanctions on more than 30 entities accused of supporting Iran's oil sales and arms supplies. This move increased pressure on Tehran ahead of the latest round of nuclear talks scheduled for Thursday afternoon in Geneva, so geopolitical risks remain a key factor for market participants to monitor.
On the trade policy front, President Donald Trump's administration is said to be continuing to push ahead with its tariff agenda. Uncertainty increased after US Trade Representative Jamieson Greer stated that Trump would sign a directive to increase global tariffs to 15% "if appropriate." This statement reinforced the perception that the direction of tariff policy could still change quickly, potentially escalating tensions with trading partners and maintaining global market volatility.
At 7:29 a.m. Singapore time, the spot gold price edged up 0.1% to $5,170.75/oz. Silver remained relatively stable at $89.16, while platinum and palladium recorded gains. In the currency market, the Bloomberg Dollar Spot Index closed the previous session down 0.2%, helping support precious metal prices. (alg)
Source: Newsmaker.id
