(3 Minutes Read)
Still, despite the declines this week, bullion’s haven appeal remains intact as markets were once again rattled by uncertainties surrounding Trump’s tariff agenda, after a federal appeals court on Thursday gave Trump a reprieve from a ruling threatening to throw out the bulk of his planned levies.
Gold falls as traders await US data for clues on tariff impacts Spot gold was down 0.5% to USD 3,300 an ounce as of 1:40 p.m. in Singapore.
Gold fell, putting it on track for an almost 2% weekly loss, amid a technical pullback in prices ahead of key US economic data. The precious metal fell as much as 0.8% on Friday, as investors awaited the US personal consumption expenditures price index — the Federal Reserve’s preferred inflation metric due later today.
Markets will be assessing the report, which will offer an insight into real consumer spending and wage growth in April, for clues on how President Donald Trump’s global trade war has impacted the economy. The selloff was also driven by technical factors ahead of the data release, according to Kelvin Wong, senior analyst at Oanda Asia Pacific Pte.
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Still, despite the declines this week, bullion’s haven appeal remains intact as markets were once again rattled by uncertainties surrounding Trump’s tariff agenda, after a federal appeals court on Thursday gave Trump a reprieve from a ruling threatening to throw out the bulk of his planned levies.
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