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Gold prices ascend amid new Trump tariff threats
Gold prices edged up after US President Donald Trump rolled out fresh tariff threats, shaking up global trade talks.
Spot gold rose slightly to $3,305.50 per ounce, while US gold futures fell 0.1% to $3,314.50.
Investors are now watching the Federal Reserve for hints on where interest rates might be headed next.
Investors are now watching the Federal Reserve
Trump's new tariffs—like a hefty 50% charge on imported copper and extra taxes on semiconductors and pharmaceuticals—kick in August 1 and hit 14 countries, including Japan and South Korea.
Meanwhile, a stronger US dollar and rising Treasury yields are making it pricier to hold onto gold.
With all this economic back-and-forth, everyone's waiting to see what the Fed does next about inflation and growth.