US EditionGold price edges lower as US, China agree to reduce tariffs, eyes on US CPI data
- On Tuesday during the early Asian session, gold prices edged lower to around $3,235 after the US and China agreed to reduce import tariffs in a 90-day truce.
- Following recent weekend negotiations, the US agreed to lower its tariffs on Chinese imports from 145% down to 30%, and in turn, China agreed to cut its tariffs on American goods from 125% to 10%.
- The tariff easing improved risk sentiment and boosted global stock markets but weighed on gold as a safe-haven asset alongside a stronger US dollar and higher yields.
- Traders now brace for the upcoming US April Consumer Price Index report expected to show 2.4% headline inflation and 2.8% core inflation, which may shape Federal Reserve policy and gold's direction.
- Gold remains above key technical supports near $3,200, but its next major resistance is around $3,347, and price movements depend heavily on the US inflation data and trade deal developments.
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17 Articles
Gold Declines Rs 650 To Rs 96,850/10 Gm Amid Weak Global Cues
New Delhi, May 14: Gold prices declined Rs 650 to Rs 96,850 per 10 grams in the national capital on Wednesday amid a weak trend in global markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 97,500 per 10 grams in the previous market session. Gold of 99.5 per cent purity depreciated Rs 700 to Rs 96,400 per 10 grams (inclusive of all taxes). It had settled at Rs 97,100 per 10 grams on…
Decline in gold prices as trade tensions between Washington and Beijing decrease
Gold prices declined in Wednesday's dealings as the demand for safe haven declined and trade tension between the US and China decreased. The price of gold in immediate transactions fell by 0.5% to $3231.10 per cent.
Gold Price Forecast: XAUUSD Under Pressure on the $3200 Tightrope
The gold price went down a bit in response to the hope that the US and China would get along better on the trade deal, making the gold less interesting to investors right now. The release of the US (CPI) on Tuesday, increasing the potential of cutting interest rates by the Federal Reserve, and affected the US dollar relatively negatively. On the other hand, the world tensions could prevent gold prices from going down too much, so investors who a…
Gold Price Drops Over US$100 as US and China Agree to Tariff Pause
The US and China agreed on Monday (May 12) to pause the majority of their tariffs for a period of 90 days, marking a significant de-escalation in trade tensions between the two countries. The US will reduce its tariffs on most Chinese goods from 145 percent to 30 percent; meanwhile, China will lower its tariffs on US goods by a similar amount, dropping them from 125 percent to 10 percent. In addition to the suspension of tariffs, a number of non…
Gold falls in price as US-China trade tensions de-escalate
Gold falls in price as US-China trade tensions de-escalateSpot gold fell 0.5% to $3,231.10 an ounce on May 14. Experts predict further declines if progress is made in trade deals between the US and its partners.
Gold price sees 0.4% drop in international market
Gold prices fell in the international market on Wednesday amid low demand for the yellow metal following a de-escalation in US-China trade tensions. As per media reports, spot gold fell 0.4 per cent to $3,234.32 an ounce as of 0231 GMT. US gold futures eased 0.3 per cent to $3,237.00. Spot silver eased 0.8 per cent to $32.63 an ounce, platinum was steady at $987.85 and palladium lost 0.7 per cent to $950.18. “Positive developments in US trade po…
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