Gold Edges Higher as Traders Assess Mixed Developments
2343 GMT — Gold edges higher in the early Asian session as traders assess mixed developments. On the one hand, President Trump's unveiling on Wednesday of a 90-day pause on higher tariffs for most countries could ease concerns over a U.S. economic slowdown. On the other hand, Trump also announced that he had raised the tariff on imports from China to 125%, which might underpin the safe-haven appeal of the precious metal. Meanwhile, 'currency depreciation pressures are acute in Asia, which historically has been highly correlated to large-scale buying activity,' says Daniel Ghali, senior commodity strategist at TD Securities, in a note. Spot gold is 0.1% higher at $3,085.74/oz. (ronnie.harui@wsj.com)
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