FX.co ★ Gold Steadies

Gold stabilized at approximately $3,010 per ounce on Tuesday, following three straight sessions of decline, as traders evaluated recent developments in U.S. tariffs. President Donald Trump recently hinted at impending tariffs on automobiles and proposed a potential 25% levy on importers of Venezuelan oil, while also indicating that certain nations might be exempt from the reciprocal tariffs set to begin next week. This varied communication has contributed to market uncertainty, although gold continues to be buoyed by demand as a safe-haven asset due to the potential for broad trade conflicts and geopolitical tensions. On the downside, Atlanta Federal Reserve President Raphael Bostic mentioned that he expects slower progress on inflation and now predicts only a minor 25-basis-point rate cut by the end of the year. Market participants are now looking forward to the release of the PCE index on Friday, which is the Fed’s favored measure of inflation, to gain further insights into future policy directions.