Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Spot Gold rebounded from a one-week low of $3,260.19 per troy ounce on Thursday on likely dip buying.

“The kind of volatility we’re seeing this week is being driven by technicals and headline risk. But the fundamentals are strong, so dip buying is effectively a function of investors moving in on the basis of the bigger picture,” Capital.com’s financial market analyst Kyle Rodda was quoted as saying by Reuters.

“We sustain an uptrend until the Trump administration really backs away from its trade policy.”

US Treasury Secretary Scott Bessent said yesterday that the current high tariff rates between the US and China were unsustainable and should be lowered before trade negotiations can proceed.

At the same time, media reports stated the Trump administration was planning to exempt auto makers from certain tariffs after intense lobbying by industry executives.

Meanwhile, the International Monetary Fund warned that the tariffs would slow economic growth and increase debt globally.

Spot Gold was last up 0.88% on the day to trade at $3,317.17 per troy ounce.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • LSE: FTSE 100 index steady ahead of ECB policy meetingLSE: FTSE 100 index steady ahead of ECB policy meeting Britains headline index was steady on Thursday as investors were reluctant to enter big positions ahead of ECBs policy meeting due later today. A recent series of upbeat data from the US and expectations for monetary stimulus in China […]
  • Spot Gold extends record run on new US-China trade concernsSpot Gold extends record run on new US-China trade concerns Spot Gold scaled a fresh all-time high of $4,078.02/oz. on Monday, as renewed US-China trade concerns coupled with expectations of more Federal Reserve interest rate cuts heightened the safe-haven allure of the metal.Last Friday, the Trump […]
  • Forex Market: EUR/USD daily trading outlookForex Market: EUR/USD daily trading outlook Yesterday’s trade saw EUR/USD within the range of 1.0827-1.0901. The pair closed at 1.0892, rising 0.52% on a daily basis, which followed two consecutive trading days of losses.At 7:18 GMT today EUR/USD was gaining 0.28% for the day to […]
  • Gold steady near two-week highs on Fed stimulus outlookGold steady near two-week highs on Fed stimulus outlook Gold advanced on Monday and remained firm above the $1 300 mark on certainty that the Federal Reserve will refrain from paring its monetary stimulus in October and speculations for extending the delay past December. The U.S. dollar hovered […]
  • Coca-Cola announces an 8.4% fourth-quarter profit declineCoca-Cola announces an 8.4% fourth-quarter profit decline Coca-Cola Co., which is currently the biggest beverage company in the world, announced that its profit for the fourth quarter decreased by 8.4%. The company also revealed that it is considering to start using a new cost-cutting program in […]
  • Spot Silver tops $120 for first time amid safe-haven rushSpot Silver tops $120 for first time amid safe-haven rush Spot Silver continued its bullish run to a fresh all-time high of $120.45/oz. on Thursday amid continued US Dollar weakness, persistent geopolitical tensions and broader economic uncertainty.The US Dollar continued to weaken amid an […]