Latest news with #geopoliticalrisks
Bloomberg
4 days ago
- Business
- Bloomberg
Gold Extends Robust Gains as Trade Worries Spur Flight to Safety
Gold edged higher following its biggest daily jump in four weeks on a weaker dollar and stronger demand for havens due to trade and geopolitical risks. Bullion was near $3,390 an ounce after surging 2.8% on Monday as relations between Washington and Beijing deteriorated and the Russia-Ukraine war intensified. China accused the US of violating their recent trade deal and vowed to take measures to defend its interests, even as the White House later confirmed that the nation's leaders are likely to speak this week.
Khaleej Times
26-05-2025
- Business
- Khaleej Times
Dubai: Gold prices drop in early trade as global tensions ease slightly
Gold prices slipped Dh1 per gram at the opening of the markets in Dubai on Monday. At 9am UAE time, 24-karat fell to Dh403.75 per gram compared to Dh404.75 per gram at the close of the markets over the weekend. Among the other variants, 22-karat, 21-karat, and 18-karat fell to Dh373.75, Dh358.25 and Dh307.25 per gram, respectively. Spot gold was trading at $3,350.2 per ounce, down 0.25 per cent as US President Donald Trump extended the EU tariff deadline to July 9. Earlier, Trump had threatened to impose a 50 per cent tariff on the European Union from June 1. The yellow metal has been trading on the higher side due to the tariff war between the US, China and other major trading partners. Citi bank has also revised its short-term gold price target upward to $3,500 per ounce due to tariff escalation and geopolitical risks. It said in its latest note that it sees precious metal consolidating between $3,100 and $3500 per ounce, up from its previous estimate of $3,000 to $3,300 per ounce. Linh Tran, a market analyst at said market sentiment currently leans toward a "soft landing" scenario for the US economy. 'As a result, investors may be rebalancing their defensive positions, triggering profit-taking in gold after a strong three-day rally. However, gold's pullback remains contained within technical boundaries, reflecting that the selling pressure is temporary rather than a signal of a trend reversal,' said Tran.
Bloomberg
22-05-2025
- Business
- Bloomberg
Gold Rally Could Be Past Its Peak by Year End: StanChart
Standard Chartered Precious Metal Analyst Suki Cooper discusses the factors that led to the gold rally and its relationship to the inflow of ETFs. "If we start to see tax stimulus measures in the US and we start to see some of the uncertainty around geopolitical risks starting to unwind, we could actually see gold starting to stabilize the elevated levels," Cooper tells Bloomberg Television. (Source: Bloomberg)
