Gold prices surge as trade tensions rise, geopolitical issues escalate, and US job data weakens

From Nasdaq: 2025-06-20 14:10:00

Gold prices surged on Thursday due to escalating trade tensions, US-Iran geopolitical issues, and weaker US job data. Comex Gold for June delivery rose by 1.79% to $1380.90 per troy ounce, while Comex Silver for June delivery increased by 0.13% to $36.213. President Trump announced possible unilateral tariffs on trading partners and the US has started evacuating non-essential staff from its Baghdad embassy. Producer prices in the US edged up by 0.1% in May, while initial jobless claims remained at 248,000. Market expectations of a Fed rate cut in September have risen due to economic uncertainty and a weaker dollar.



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