From Investing.com: 2025-01-29 02:14:00

Gold prices rose on Tuesday by 0.8% due to persistent safe-haven demand driven by concerns over Trump’s trade tariffs and a weaker US Consumer Confidence report. Trump’s proposed tariffs on imported goods may spark trade wars, boosting gold’s appeal as a safe-haven asset. XAU/USD remained flat ahead of the Federal Reserve interest rate decision, with markets anticipating a dovish stance to potentially drive the price higher.

The euro fell 0.6% against the US dollar on Tuesday as the greenback strengthened on fresh tariff threats from Trump. Weaker US durable goods orders and Trump’s tariff threats drove investors to the safe-haven dollar. EUR/USD remained relatively unchanged ahead of the Fed interest rate decision, with markets expecting a hawkish statement to potentially push the pair lower.

The Canadian dollar declined by 0.19% against the US dollar on Tuesday as markets anticipated a potential Bank of Canada interest rate cut amidst renewed US tariff concerns. Trump’s threats of tariffs on imported goods may lead to a sharp sell-off of the loonie. USD/CAD remained flat ahead of two central bank interest rate decisions, with markets expecting a hawkish Fed and a dovish BOC statement to drive volatility in the pair.



Read more at Investing.com: Gold Prices Hold as Markets Await Fed Decision Amid Inflation and Trade Uncertainty