Gold rose on Tuesday, as safe-haven demand lingered amid geopolitical uncertainty, while silver also hovered near all-time highs.<\/p>\n
Ravitaliy | Istock | Getty Images<\/p>\n
Gold\u00a0rose on Tuesday, after breaking through the $5,100 mark for the first time in the previous session, as safe-haven demand lingered amid geopolitical uncertainty, while silver also hovered near all-time highs.<\/p>\n
Spot\u00a0gold<\/a>\u00a0climbed 1% to $5,065.07 per ounce, as of 0329 GMT, after scaling a record $5,110.50 the previous day.<\/p>\n U.S.\u00a0gold\u00a0futures<\/a>\u00a0for February delivery lost 0.4% to $5,059.90 per ounce.<\/p>\n “Trump’s disruptive policy approach this year is playing into the hands of\u00a0precious\u00a0metals as a defensive play. The threats of higher tariffs to Canada and South Korea are doing enough to keep\u00a0gold\u00a0a safe-haven choice,” said Tim Waterer, KCM Trade’s chief market analyst.<\/p>\n Making things murkier geopolitically, U.S. President Donald Trump said on Monday he would\u00a0raise\u00a0tariffs on South Korean autos, lumber, and pharmaceuticals imports to 25%, while criticizing Seoul for failing to enact a trade deal with Washington.<\/p>\n This was after he threatened tariffs on Canada in the backdrop of a thawing relationship between the two countries, following Canada’s Prime Minister Mark Carney’s visit to China earlier this month.<\/p>\n China’s Zijin\u00a0Gold<\/a>\u00a0will\u00a0buy\u00a0Canada’s Allied\u00a0Gold<\/a>\u00a0for about C$5.5 billion ($4.02 billion) in cash, amid record high prices for\u00a0gold.\u00a0Gold’s unprecedented rally has boosted miners’ margins and cash flows, fuelling consolidation.<\/p>\n “The intervention from U.S. and Japanese officials to steady the yen has dented the dollar and has been a boon for the\u00a0gold\u00a0price,” Waterer added, while the greenback was further pressured by a looming U.S. government\u00a0shutdown\u00a0and Trump’s erratic policymaking, resulting in cheaper greenback-priced\u00a0gold\u00a0for overseas consumers.<\/p>\n Bets are for the Federal Reserve<\/a> to hold interest rates steady at its meeting beginning later today, amid a Trump administration criminal investigation of Fed chief Powell, an evolving effort to fire Fed Governor Lisa Cook, and the upcoming nomination of a successor to Powell in May.<\/p>\n Spot silver<\/a>\u00a0surged 5.2% to $109.22 an ounce, after hitting a record high of $117.69 on Monday. The white metal has already surged 53% so far this year.<\/p>\n Spot platinum<\/a> lost 2.5% to $2,658.19 per ounce after hitting a record $2,918.80 in the previous session, while palladium<\/a>\u00a0fell 1.3% to $1,956.31.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold rose on Tuesday, as safe-haven demand lingered amid geopolitical uncertainty, while silver also hovered near all-time highs.…\n","protected":false},"author":2,"featured_media":259860,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[137099,357,55842,22814,42,98023,43,98025,55841,40,38,41,39,137098],"class_list":["post-259859","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-allied-gold-corp","tag-business-news","tag-gold-us-dollar-spot","tag-gold-comex-dec25","tag-headlines","tag-metal-commodities","tag-news","tag-platinum-us-dollar-spot","tag-silver-us-dollar-spot","tag-top-news","tag-top-stories","tag-topnews","tag-topstories","tag-zijin-gold-international-co-ltd"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/259859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=259859"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/259859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/259860"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=259859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=259859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=259859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}