Gold prices rise due to US-China trade tensions and Fed rate cut hopes

From Investing.com: 2025-02-06 01:50:00

Gold prices rose by 0.81% as investors sought safe-haven assets amidst US-China trade war concerns. China imposed tariffs on US goods in retaliation. Trade tensions could lead to higher US inflation, prompting the Fed to hold interest rates longer. XAU/USD slightly rising, with $2,934/ounce projection. Euro gained 0.24% against USD on weakened dollar. Eurozone economy remains troubled. EUR/USD fell, but may recover. Canadian dollar rose by 0.1% after US paused trade tariffs. Canada reported trade surplus first time in 10 months. USD/CAD stabilizing, but may fluctuate with trade talks. Labor Force Survey report key event for USD/CAD traders.



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