Gold prices remain steady above $3,000 despite USD strength, tariff uncertainty, and geopolitical risks

From Investing.com: 2025-03-27 03:30:00

Gold prices remained steady above $3,000 despite a stronger USD. Investors sought refuge in gold amid tariff concerns and geopolitical risks. Trump’s hint at potential auto tariffs eased worries slightly. Minneapolis Fed President Kashkari noted more work needed to reach 2% inflation. XAU/USD rose in Asian and European trading, with key reports today to guide interest rate path.

The euro weakened against the USD due to a stronger greenback post-Durable Goods Orders report. Economic uncertainty and potential US auto tariffs added pressure. Bank of America data showed increased selling of euros against the USD. Eurozone struggles with high energy costs and competitiveness. EUR/USD volatility expected with US GDP and Jobless Claims reports today.

The Canadian dollar fluctuated as traders awaited US auto tariff announcements. Trump’s 25% tariff on imported cars may escalate trade tensions. BOC cautious on inflation risks despite recent rate cut. USD/CAD sees volatility with key US economic reports today. Canadian election may impact auto sector competitiveness. Support at 1.42340 and resistance at 1.42720 for USD/CAD.



Read more at Investing.com: Gold Prices Hold Strong Despite Fed Signals and Tariff Uncertainty