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Gold slips to lowest in over a week as Trump tariff threats push dollar higher - YAHOO FINANCE
Gold (GC=F)
Gold prices fell on Wednesday morning to their lowest level in over a week as a stronger dollar and rising US Treasury yields dampened investor appetite for the precious metal, amid growing scepticism over a Federal Reserve rate cut this month.tures were 0.5% lower at $3,300.50 an ounce, while spot gold retreated 0.9% to $3.295.53 per ounce.
The US dollar index (DX-Y.NYB) strengthened 0.1%, extending gains after hitting a two-week high on Tuesday. Yields on 10-year US Treasuries remained elevated, hovering near their highest levels in three weeks.
Investor sentiment towards gold has cooled in recent days, as markets recalibrate expectations for US monetary policy in the face of persistent inflationary risks. Donald Trump on Tuesday renewed his threat to impose 10% tariffs on Brics nations, just a day after formally notifying 14 countries including Japan and South Korea of planned tariff increases set to take effect on 1 August.
Expectations that such tariffs could add to inflationary pressures have pushed US yields higher, reinforcing bets that the Fed may delay any potential rate cut.
