Gold Retreats Further
Gold fell past $3,290 per ounce on Friday, erasing gains from the prior session after Beijing announced exemptions on certain U.S. goods from its 125 % tariffs—signaling a thaw in the trade dispute and diminishing bullion’s appeal as a hedge.
Simultaneously, the dollar index approached the 100 mark—making dollar-priced gold costlier for overseas buyers—while U.S. Treasury yields edged higher as Fed officials reiterated a patient stance on policy. Gold has wiped out earlier advances and is poised for a weekly retreat, after it reached a fresh high of $3,500 earlier this week amid U.S. growth concerns but then retreated after Trump tempered his comments on Fed independence.
Gold has risen roughly 30 % year-to-date, while the gold-to-silver ratio has climbed to its highest level since 1994 excluding the pandemic, underscoring bullion’s relative strength.
Source : Trading Economics
