Gold price today in the U.S. dips sharply—Is this an economic earthquake, which Trump tariff ruling triggered it, and what should investors watch out for next?
Why are gold prices falling despite inflation concerns?
How much is gold worth right now in different units?
Per Ounce: Around $3,268.50, down from $3,271.17 the previous day.
Around $3,268.50, down from $3,271.17 the previous day. Per Gram: Roughly $106.50.
Roughly $106.50. Per Kilogram: Close to $106,500.
Are gold etfs showing the same trend?
SPDR Gold Shares (GLD) is up 0.5%, trading at $305.45.
iShares Gold Trust (IAU) has risen 0.5% to $62.50.
abrdn Physical Gold Shares ETF (SGOL) is up 0.4%, now at $31.61.
Live Events
What's the impact of the court ruling on the dollar and gold?
Where are gold prices headed next?
What are investors watching now for gold direction?
U.S. core PCE Price Index (due Friday) – The Fed's preferred inflation gauge could influence interest rate expectations and gold pricing.
Weekly jobless claims and revised GDP numbers – Any surprises here may swing market sentiment quickly.
Fed policymakers' speeches – Their tone could give hints about the next policy moves.
U.S.-China trade headlines – With talks of new tech restrictions on China surfacing from the New York Times, geopolitical tensions could add further volatility.
Is this a buying opportunity for gold investors?
FAQs:
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Gold prices in the U.S. have slipped as of May 29, 2025, driven by renewed economic concerns and shifting investor sentiment. Spot gold is now hovering around $3,268.50 per ounce, reflecting a 0.6% decline from the previous day, with the market reacting to a mix of legal, economic, and geopolitical developments.Gold, often seen as a hedge against inflation and economic instability, has taken a step back recently. The immediate trigger? The U.S. economy shrank by 0.2% in Q1 2025, raising questions about growth prospects and diminishing gold's appeal as a safe-haven asset, according to Kitco.At the same time, a U.S. federal court ruling on May 28, 2025, struck down a series of Trump-era tariffs, strengthening the U.S. dollar. A stronger dollar tends to put downward pressure on gold, making it more expensive for foreign buyers and reducing overall demand.Interestingly, gold ETFs haven't followed the same path as spot prices. As of today:This slight uptick may suggest that long-term investors still see gold as a valuable asset, especially during market uncertainty.The U.S. Court of International Trade ruled that several tariffs introduced under President Trump were unlawful, claiming they exceeded presidential authority, according to Reuters. This legal decision boosted the U.S. dollar, which has been recovering steadily, putting pressure on gold.Investors have shifted attention toward riskier assets, as this ruling is viewed by some as a positive step for global trade. The dollar's climb has made gold less attractive, especially as inflation pressures appear to ease slightly.Gold futures for June 2025 are currently priced around $3,283.70 per ounce, per Investing.com, Yahoo Finance, and MarketWatch. Analysts believe that $3,250 could act as a strong support level, while resistance sits near $3,300.Technically, the gold market is in a short-term downtrend. The 14-day Relative Strength Index (RSI) is slipping below midline (near 49.50), and buyers recently failed to hold the $3,295 level, which was key support.If prices fall further, watch for potential support around $3,230 and $3,168 — both crucial levels tied to previous Fibonacci retracement patterns. On the upside, a clear break above $3,350 would be needed to revive the bullish momentum.Even with short-term weakness, some analysts say this dip could be a buying opportunity for long-term holders. With gold still trading above key support zones, and market uncertainty far from over, many see gold as a smart hedge.As always, market timing is tricky—but for those betting on inflation risks, global conflict, or dollar volatility, gold's current levels might offer value.Gold prices are falling due to a stronger U.S. dollar and weak GDP data.Analysts see support near $3,250 and resistance close to $3,300 in 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Elon Musk's dad Errol calls son's Trump feud a ‘just a small thing', predicts it'll be over soon
Errol Musk, father of billionaire Elon Musk, described his son's recent public clash with President Donald Trump as a 'mistake' and predicted that Trump would ultimately come out on top in the bitter dispute. Errol Musk said the feud was fueled by stress and exhaustion. 'They've been under a lot of stress for five months. And it gives them a break. You know, they've had to get rid of all the opposition, try and put the country back on track, and do normal things and so forth,' he told Russian media, as per daily newspaper Izvestia. Errol added, 'They're very tired and stressed. And so you can expect something like this. It's not unusual.' The elder Musk was clear on the outcome he expects from the spat. 'Trump will prevail. He's the president. He was elected as the president, so Elon made a mistake, I think. But he's tired. He's stressed.' Elon, according to Errol, 'wants to stick to the principles of not giving in to the Democrats [and] their stupid ideas. It's normal, it's just a small thing, [it] will be over tomorrow.' The conflict escalated with Elon Musk publicly criticising Trump and Republican legislation 'One Big Beautiful Bill Bill,' which Musk called 'pork-filled' and a 'disgusting abomination.' Last Thursday, Musk intensified his attacks, claiming without his support, 'Trump would have lost the election, Dems would control the House and the Republicans would be 51-49 in the Senate.' At one point, Musk even appeared to support impeachment efforts against Trump and controversially referenced Trump's name in connection with the Epstein files, though that post was later deleted. The feud has strained Musk's business ties with the government. Trump threatened to cut federal contracts with Musk's companies, and Musk hinted at retiring the Dragon spacecraft—the government's primary means of orbital access. While Trump downplays any reconciliation, warning Musk of potential 'consequences' if he financially backs Democrats in 2026, Musk has reportedly shown openness to patching things up. Vice President JD Vance expressed optimism about bringing Musk back into the Republican fold. When asked about reconciliation, Trump was dismissive: 'No, I don't have any plans. I'm not really interested. I'm not thinking about Elon. You know, I just wish him well.' Trump also suggested Musk 'lost his mind' and had gone 'crazy' amid the public conflict.
Time of India
2 hours ago
- Time of India
Trump ‘BLOCKS' Congress Sanctions Against Putin, GOP Senators Too Scared To Protest?
/ Jun 09, 2025, 01:08AM IST A legislation set to be tabled by a Republican senator seeking more sanctions on Russia has been stalled. According to a Bloomberg report, the bill has been stalled due to U.S. President Donald Trump's opposition. The legislation calls for a 500 per cent tariff on countries that buy Russian energy, uranium, and other raw materials. According to the report, Trump had said he had not even looked at the bill, adding he would consider sanctions "at the right time".
Time of India
3 hours ago
- Time of India
Will visa delays and border fears keep international fans away from the Club World Cup in the US?
As the U.S. prepares to host the FIFA Club World Cup, concerns about international travel, fan safety, and economic uncertainty are casting a shadow over the event. Expanded from seven to 32 teams, the tournament faces slow ticket sales and anxieties fueled by strict immigration policies and travel bans. These factors raise questions about whether the U.S. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New York: As the United States readies for the FIFA Club World Cup , concern over such things as international travel, fan safety and even economic uncertainty threaten to diminish enthusiasm for the United States will see the arrival of 32 professional club teams from around the globe to 11 cities for the tournament. There's a $1 billion prize Club World Cup is considered in many ways to be a dress rehearsal for the big event, the 2026 World Cup to be hosted by the United States, Canada and there seems to be little buzz for the Club World Cup at home or abroad. The expansion of the field from seven to 32 teams has diminished the exclusivity of the event, and ticket sales appear the same time, the tournament is being played amid reports of foreign tourists being detained and visa processing delays. Chaotic U.S. Immigration and Customs Enforcement activities and President Donald Trump's travel bans aren't exactly reassuring international fans , travelers, visa woesTrump's policies appear to have already impacted travelers. The National Travel and Tourism Office released data showing visitors to the U.S. from foreign countries fell 9.7% in March compared to the same month last year. The travel forecasting company Tourism Economics has predicted that international arrivals would decline 9.4% this U.S. Travel Association, a nonprofit group that represents the travel industry, has urged the Trump administration to improve such things as visa processing and customs wait times ahead of a series of big sporting events on U.S. soil, including the Club World Cup beginning June 14, the Ryder Cup later this year, next summer's World Cup, and the 2028 Los Angeles President Geoff Freeman said, for example, that the wait in Colombia for a visa interview appointment is upwards of 18 months - already putting the 2026 World Cup out of reach for some travelers. He said his organization is working with the White House's World Cup Task Force to address issues."They (the task force) recognize how important this event is: success is the only option. So we're eager to work with them to do whatever it is we need to do to ensure that we can welcome the millions of incremental visitors that we think are possible," Freeman said. "But these underlying issues of visa and customs, we've got to address."Secretary of State Marco Rubio, speaking at a House Committee on Foreign Affairs hearing last month, suggested consular staff could be put on longer shifts and that artificial intelligence could be used to process visas."We want it to be a success. It's a priority for the president," said the Trump administration may have added to the concerns for international visitors by issuing a ban on travelers from 12 countries, with restrictions on travel from nine more countries. Iran, one of the countries named, has qualified for the World proclamation included an exemption for "any athlete or member of an athletic team, including coaches, persons performing a necessary support role, and immediate relatives, traveling for the World Cup, Olympics, or other major sporting event as determined by the secretary of state."It did not mention fearsThere are signs current immigration policies were already impacting soccer fans and spurring worries over safety. A Latin American supporters group in Nashville stayed away from a recent Major League Soccer game because of ICE activity in the city. The city's Geodis Park is set to host three Club World Cup Navarro, who offers travel advice to followers on his social media platforms under the moniker TravelFutbolFan, said the World Cup Task Force announcement did not allay fears about travel, especially when Vice President JD Vance said, "We want them to come. We want them to celebrate. We want them to watch the game. But when the time is up, they'll have to go home. Otherwise, they'll have to talk to (Homeland Security) Secretary (Kristi) Noem."That insinuated fans visiting the United States for the World Cup could use it to stay in the country, which is nonsensical, Navarro maintained. For many countries, fans traveling to the World Cup - an expensive travel plan with hiked flight and hotel prices - are broadly viewed as higher-spending and lower-risk for host nation security put the onus on FIFA "They must know that there is an anxiety among international travelers wanting to come in. They must know there's an anxiety among the U.S. fan base that is multicultural and wanting to go to all these places. Are they going to? Are they going to be harassed by ICE?" Navarro said. "There is just a lot of uncertainty, I would say, too much uncertainty, that the fan base doesn't want to think about."If you build it, will they come?It remains to be seen how outside factors will ultimately impact the Club World Cup, which is not the global spectacle or draw that the World Cup sales, which were based on a dynamic pricing model, appear to be slow, with lowered prices from earlier this year and a slew of recent promotions. For a match between Paris Saint-Germain and Botafogo at the Rose Bowl on June 19, there were wide swaths of available seats going for $33.45.
