Gold slips on Trump EU tariff delay
The post Gold slips on Trump EU tariff delay appeared on BitcoinEthereumNews.com. Gold price slips back below $3,340, erasing some of Friday’s gains. Markets head into risk-on after Trump announced a delay on EU tariffs until July 9. US debt concerns linger, capping the downside for the precious metal. Gold (XAU/USD) price slips on Monday towards $3,325 at the time of writing, partly erasing Friday’s gains. The small dip comes after United States (US) President Donald Trump announced he would extend to July 9 the deadline for the European Union (EU) to face 50% tariffs. The decision came after a call between Trump and European Commission President Ursula Von Der Leyen on Sunday, and should help the EU broker a trade deal with the Trump administration. While markets turned risk-on after the temporary reprieve period and Gold slipped, this does not mean the rally in the precious metal is over. A softer stance on trade weakens the safe-haven demand for Gold, but the metal’s safety appeal is still strong amid growing concerns about the fiscal position of the US government. Investors remain concerned that Trump’s tax bill, which last week passed the House and will be debated in the Senate, will further increase both the US deficit and debt. Daily digest market movers: Small extension US President Trump on Sunday announced that his plans to hit the EU with 50% tariffs would be delayed until July 9 to allow for time for both sides to negotiate a deal. The US leader on Friday had threatened higher-than-expected 50% levies against the bloc, while also warning Apple Inc. that it would be subject to 25% tariffs if it does not manufacture its iPhones in the US, Bloomberg reports. Josh Gilbert, market analyst at eToro, warned that these delays aren’t bringing any structural changes to Trump’s tariff policy. “Pauses are all well and good for…
The post Gold slips on Trump EU tariff delay appeared on BitcoinEthereumNews.com.
Gold price slips back below $3,340, erasing some of Friday’s gains. Markets head into risk-on after Trump announced a delay on EU tariffs until July 9. US debt concerns linger, capping the downside for the precious metal. Gold (XAU/USD) price slips on Monday towards $3,325 at the time of writing, partly erasing Friday’s gains. The small dip comes after United States (US) President Donald Trump announced he would extend to July 9 the deadline for the European Union (EU) to face 50% tariffs. The decision came after a call between Trump and European Commission President Ursula Von Der Leyen on Sunday, and should help the EU broker a trade deal with the Trump administration. While markets turned risk-on after the temporary reprieve period and Gold slipped, this does not mean the rally in the precious metal is over. A softer stance on trade weakens the safe-haven demand for Gold, but the metal’s safety appeal is still strong amid growing concerns about the fiscal position of the US government. Investors remain concerned that Trump’s tax bill, which last week passed the House and will be debated in the Senate, will further increase both the US deficit and debt. Daily digest market movers: Small extension US President Trump on Sunday announced that his plans to hit the EU with 50% tariffs would be delayed until July 9 to allow for time for both sides to negotiate a deal. The US leader on Friday had threatened higher-than-expected 50% levies against the bloc, while also warning Apple Inc. that it would be subject to 25% tariffs if it does not manufacture its iPhones in the US, Bloomberg reports. Josh Gilbert, market analyst at eToro, warned that these delays aren’t bringing any structural changes to Trump’s tariff policy. “Pauses are all well and good for…
What's Your Reaction?
