Gold's recovery to $2,630 per ounce highlights resilience amidst inflation concerns due to trade wars, though potential tariffs may indirectly pressure its value.
The declines in US Treasury yields are providing some support for gold prices. Specifically, the two-year Treasury yield struggles to exceed 4.3%, while the 10-year yield hovers around 4.4%.
Trump's re-election and the potential for renewed trade tensions with countries like China creates a backdrop of uncertainty, influencing gold prices in the context of inflation fears.
The impending tariffs on Mexico, Canada, and China could result in higher costs of goods in the US, complicating economic conditions and possibly further pressuring gold.
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