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Epoch Times
30-04-2025
- Business
- Epoch Times
US Economy Contracts in 1st Quarter for First Time Since 2022
The U.S. economy contracted to kick off 2025 as a spike in imports weighed on the country's growth prospects. According to the This was the first quarterly contraction since the first quarter of 2022, but it was better than some forecasts signaled. The widely watched Atlanta Federal Reserve Bank's GDPNow Model Imports, which are subtracted from the gross domestic product calculations, rocketed 41.3 percent in the first three months of the year as businesses were front-running President Donald Trump's tariffs. GDP data indicate that the decline was also a reflection of a decrease in government spending. In the January–March period, government outlays fell by 1.4 percent, with federal spending plummeting by 5.1 percent. Related Stories 4/28/2025 4/22/2025
Zawya
15-04-2025
- Business
- Zawya
Gold rises as investors seek safety amid uncertainty around Trump's tariff plans
Gold prices rose on Tuesday, as investors turned to the safe-haven asset amid continued uncertainty surrounding U.S. President Donald Trump's tariff plans, which could heighten an ongoing trade war and slow global economic growth. Spot gold was up 0.4% at $3,222.31 an ounce, at 0949 GMT. Bullion hit a record high of $3,245.42 on Monday. U.S. gold futures rose 0.4% to $3,238.60. "The environment remains supportive for higher gold prices, but the journey towards higher prices will not be a straight line, there will likely be some temporary setbacks," said UBS analyst Giovanni Staunovo. Federal Register filings on Monday showed that the U.S. administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs. Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week. Bullion, a hedge against global instability, has maintained its upward trajectory from last year, rising over 23% in 2025 so far and setting multiple record highs. The U.S. economy is in a "big pause" due to uncertainties surrounding Trump's tariff and other policies, Atlanta Federal Reserve Bank President, Raphael Bostic said on Monday, suggesting the central bank should retain its current position until there is more clarity. Traders are currently expecting 83 basis points of rate cuts from the Fed this year. Non-yielding bullion tends to thrive in a low interest rate environment. Meanwhile, investments into Chinese physically-backed gold exchange-traded funds so far this month have exceeded those for all of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. "Higher inflation, lower economic growth and political uncertainty are likely to keep supporting gold demand from investors and central banks. New gold import quotas in China should also be supportive," Staunovo said. Spot silver fell 0.2% to $32.28 an ounce and platinum rose 0.4% to $955.40, while palladium was down 0.5% at $951.30. (Reporting by Anmol Choubey in Bengaluru; Editing by Varun H K and David Evans)
Shafaq News
15-04-2025
- Business
- Shafaq News
Gold gains as markets grapple with US tariff uncertainty
Shafaq News/ Gold prices rose on Tuesday amid continued uncertainty over U.S. President Donald Trump's tariff plans and its impact on the global economy. Spot gold was up 0.6% to $3,229.93 an ounce, as of 0501 GMT, not far from Monday's record high of $3,245.42. U.S. gold futures rose 0.6% to $3,246.50. "Gold continues to firm today ... on ongoing investors' demand for defensive assets to mitigate portfolio volatility as the U.S. seems to be setting the stage for more tariffs to come," IG market strategist Yeap Jun Rong said. The U.S. is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on the grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed. Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on edge. With gold prices recently hitting a new high, the upward trend remains intact and as long as tariff uncertainties drag on, bullion may remain supported, Yeap said. Meanwhile, Atlanta Federal Reserve Bank President Raphael Bostic said the uncertainty surrounding tariffs and other policies has put the economy into a "big pause," and suggested the Fed should stay on hold until there is more clarity. Non-yielding gold acts as a hedge against global uncertainty and inflation, and also tends to thrive in a low-interest-rate environment. Investments into Chinese physically-backed gold exchange-traded funds so far this month have exceeded those for all of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Spot silver was steady at $32.33 an ounce, platinum slipped 0.1% to $950.65 and palladium fell 1.1% to $945.19.
Khaleej Times
15-04-2025
- Business
- Khaleej Times
UAE: Gold prices edge higher as markets grapple with US tariff uncertainty
Gold prices rose on Tuesday amid continued uncertainty over U.S. President Donald Trump's tariff plans and its impact on the global economy. In UAE, 24k opened at Dh389.50 per gram on Tuesday. The 22K variant was selling at Dh360.50 per gram. Among the other variants, 21K and 18K opened at Dh345.75 and Dh296.25 per gram, respectively. Spot gold was up 0.6% to $3,229.93 an ounce, as of 0501 GMT, not far from Monday's record high of $3,245.42. U.S. gold futures rose 0.6% to $3,246.50. "Gold continues to firm today... on ongoing investors' demand for defensive assets to mitigate portfolio volatility as the U.S. seems to be setting the stage for more tariffs to come," IG market strategist Yeap Jun Rong said. The US is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on the grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed. Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on edge. With gold prices recently hitting a new high, the upward trend remains intact and as long as tariff uncertainties drag on, bullion may remain supported, Yeap said. Meanwhile, Atlanta Federal Reserve Bank President Raphael Bostic said the uncertainty surrounding tariffs and other policies has put the economy into a "big pause," and suggested the Fed should stay on hold until there is more clarity. Non-yielding gold acts as a hedge against global uncertainty and inflation, and also tends to thrive in a low-interest-rate environment. Investments into Chinese physically-backed gold exchange-traded funds so far this month have exceeded those for all of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Spot silver was steady at $32.33 an ounce, platinum slipped 0.1% to $950.65 and palladium fell 1.1% to $945.19.
Yahoo
15-04-2025
- Business
- Yahoo
Gold firms as markets grapple with US tariff uncertainty
By Rahul Paswan and Anushree Mukherjee (Reuters) - Gold firmed on Tuesday amid continued uncertainty over U.S. President Donald Trump's tariff plans and their impact on the global economy. Spot gold gained 0.4% to $3,221.70 an ounce, as of 0245 GMT. Bullion hit a record high of $3,245.42 on Monday. U.S. gold futures rose 0.4% to $3,237.60. "Gold continues to firm today... on ongoing investors' demand for defensive assets to mitigate portfolio volatility as the U.S. seems to be setting the stage for more tariffs to come," IG market strategist Yeap Jun Rong said. The U.S. is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on the grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed. Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on edge. With gold prices recently hitting a new high, the upward trend remains intact and as long as tariff uncertainties drag on for longer, bullion may remain supported, Yeap said. Meanwhile, Atlanta Federal Reserve Bank President Raphael Bostic said the uncertainty surrounding tariffs and other policies has put the economy into a "big pause," and he suggested the U.S. central bank should stay on hold until there is more clarity. Non-yielding gold acts as a traditional hedge against global uncertainty and inflation, and also tends to thrive in a low-interest-rate environment. Investments into Chinese physically-backed gold exchange-traded funds so far this month have exceeded those for all of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Spot silver lost 0.4% to $32.22 an ounce, platinum rose 0.1% to $952.60 and palladium eased 0.7% to $949.92. Sign in to access your portfolio
