From Investing.com: 2025-06-02 06:12:00

Gold prices rebounded as former U.S. President Donald Trump announced plans to increase tariffs on certain imports, reigniting fears of a global trade war and legal uncertainty. The escalation in trade tensions and geopolitical risks prompted demand for safe-haven assets, with XAU/USD rising above $3,320. Investors await comments from Federal Reserve Chair for more clues on the U.S. interest rate path.

The euro held firm amid escalating trade tensions between the U.S. and China, with tariffs on steel and aluminium imports set to double. Despite the conflict, there is still hope for diplomatic engagement between the two economies. Traders should monitor U.S. economic indicators and key data releases for insights into changing trade dynamics and potential risks to the economy.

The Japanese yen advanced as concerns over protectionist policies grew following Trump’s tariff threats on steel and aluminium imports. Investors sought refuge in safe assets, leading to a rally in the yen. The tariff announcement had sectoral implications, affecting Japanese steelmakers differently. Market participants will closely watch the U.S. ISM Manufacturing Purchasing Managers’ Index report for potential impact on USD/JPY.



Read more at Investing.com: Gold Price Rebounds as Trump Tariff Threat Sparks Global Trade War Fears