FX.co ★ Gold Firms Near Four-Week High

Gold traded steadily above $5,180 per ounce on Thursday, extending the previous session’s gains and hovering near a nearly four-week high, as markets assessed escalating geopolitical risks and uncertainty over US trade policy. A buildup of US troops in the Middle East left investors cautious ahead of nuclear talks in Geneva, while Washington increased pressure on Iran by sanctioning entities tied to oil and weapons exports. At the same time, the Trump administration moved to preserve its global tariff stance, raising concern among key trading partners. US Trade Representative Jamieson Greer said the president intends to lift certain tariffs to 15% “where appropriate,” following a 10% levy that came into force after the Supreme Court struck down earlier reciprocal tariffs. On the monetary policy front, lingering inflation worries led traders to push back expectations for the Federal Reserve’s next interest rate cut to September.