Gold prices experienced a decline as investors capitalized on profits from a recent record high while facing additional pressure from a slight rise in U.S. Treasury yields. The situation is further complicated by tariff developments, including a potential delay in tariffs on Mexico and Canada, which might ease economic concerns. However, President Trump's 25% tariff announcement on EU imports has revived trade fears. Upcoming key economic data, like GDP, jobless claims, and PCE inflation, will critically influence market sentiment towards gold, amidst signs of diminishing physical demand, particularly from China.
Gold prices have declined as investors took profits after a record high, compounded by rising U.S. Treasury yields and evolving tariff concerns.
The recent announcement of a 25% tariff on EU goods by President Trump has reignited global trade tensions, creating a complex backdrop for gold prices.
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