Gold prices dip due to profit-taking, but supported by fears of trade war and high interest rates

From Investing.com: 2025-02-12 02:30:00

Gold prices retreated slightly on Tuesday due to profit-taking, but fears of a global trade war and high US interest rates continue to support the bullish trend. President Trump’s decision to raise tariffs on steel and aluminium imports may trigger a trade war, benefiting gold as a protective asset. Meanwhile, the Euro gained against the US Dollar as the bullish trend in the Dollar Index weakened. Despite Powell’s hawkish comments on US interest rates, the British Pound rose against the Dollar as traders expect the Bank of England to pursue a looser monetary policy. Focus remains on US inflation data and UK GDP report for further market direction.



Read more at Investing.com: Gold Slips Below $2,930 Amid Market Correction, But Upside Potential Remains