Gold prices rise amid US tariff discussions
Gold prices inched up 0.3% to $3,330.99 per ounce on Wednesday after US inflation saw its biggest jump in five months.
With President Trump planning 30% tariffs on imports from Mexico and the EU starting August 1, investors are bracing for more trade drama.
Gold gets more attention as a safe bet
Gold is getting extra attention as a safe bet when things feel shaky—like now, with rising prices and global trade tensions.
The latest inflation spike suggests tariffs are making everyday goods costlier, so the Federal Reserve might keep interest rates steady for a while.
Dallas Fed President Lorie Logan hinted rates could stay put to fight inflation, while Trump is still pushing for cuts—a sign of mixed signals ahead.
Markets are waiting on more US inflation data
Markets are waiting on more US inflation data this week to see where things go from here.
Silver is also near multiyear highs, but gold's path will depend on how trade policies and Fed decisions play out in the coming weeks.