Gold prices have increased at the start of this week following a correction, driven by a weaker U.S. dollar and expectations of an interest rate cut by the Federal Reserve in July. The uncertainty around President Trump's plans for reciprocal tariffs has raised concerns about a potential global trade war, leading investors to consider gold as a hedge against economic instability. Moreover, ongoing geopolitical tensions, particularly regarding the Ukraine-Russia conflict, could impact gold demand as a safe-haven asset, affecting its short-term prospects.
Gold prices are rebounding amid a weaker U.S. dollar and expectations that the Federal Reserve may cut interest rates as early as July.
Trump's proposed reciprocal tariffs on countries imposing duties on U.S. goods could drive investors toward gold as a hedge against economic instability.
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