FX.co ★ Gold Hovers at Record High

Gold prices remained steady above $3,330 per ounce on Thursday, continuing the upward momentum from a 3% surge in the previous session. This rise is largely attributed to increased demand for safe-haven assets amid persistent uncertainties surrounding U.S. trade policies. The market's attention has been riveted by volatile developments in tariff announcements, as the Trump administration has launched trade investigations possibly leading to tariffs on semiconductor and pharmaceutical imports. This follows a signal of potential postponement of existing auto tariffs and the suspension of levies on select technology products. On Wednesday, Federal Reserve Chair Jerome Powell indicated that the U.S. central bank would maintain its current interest rates until further clarity is achieved, particularly as Trump's tariffs are anticipated to contribute to rising inflation and decelerated economic growth. Concurrently, investors are monitoring the outlook for U.S.-China trade negotiations, especially after China's indication of its willingness to re-engage in trade discussions, albeit with specific conditions.