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Gold gains ground as Trump's trade war shakes markets
07-Apr-2025, 02:20
Gold ticked higher in Asian electronic trade, buoyed by a softer US dollar and escalating global uncertainty. The dollar index slipped below 102, pressured by mounting fears that President Trump's sweeping tariffs could trigger a global slowdown. Despite roiling markets, the White House held firm, with Trump stating, 'sometimes you have to take a medicine to fix something.' His blanket 10 percent import tax is already in effect, with more to come. Meanwhile, Fed Chair Jerome Powell warned that trade tensions are raising the risk of inflation and dampening growth prospects. As investors turn to safe-haven assets, MCX June gold futures rose ₹245 to ₹88320 per 10 grams.
Gold ticked higher in Asian electronic trade, buoyed by a softer US dollar and escalating global uncertainty. The dollar index slipped below 102, pressured by mounting fears that President Trump's sweeping tariffs could trigger a global slowdown. Despite roiling markets, the White House held firm, with Trump stating, 'sometimes you have to take a medicine to fix something.' His blanket 10 percent import tax is already in effect, with more to come. Meanwhile, Fed Chair Jerome Powell warned that trade tensions are raising the risk of inflation and dampening growth prospects. As investors turn to safe-haven assets, MCX June gold futures rose ₹245 to ₹88320 per 10 grams.
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