In the early Asian session, gold is slightly rising as traders evaluate conflicting news. The announcement by President Trump on Wednesday of a 90-day moratorium on additional tariffs for the majority of nations may allay fears of a downturn in the U.S. economy. However, Trump also said that he has increased the import tax on Chinese goods to 125%, which might support the precious metal’s attractiveness as a safe haven. “Currency depreciation pressures are acute in Asia, which historically has been highly correlated to large-scale buying activity,” according to a note from Daniel Ghali, senior commodity strategist at TD Securities. Spot gold has increased by 0.1% to $3,085.74/oz.
Gold Climbs as Traders Navigate Mixed Market Signals
- Date: April 10, 2025
- Time: 2:20 PM
