Metals: Gold nears record high on Trump’s China comments – ING
Source Fxstreet
Gold rose close to a record high late last week after Donald Trump signalled a less aggressive approach to China, ING's commodity analysts Warren Patterson and Ewa Manthey note.
Trump pushes Gold higher
"In a TV interview last week Trump said he would 'rather not have to use' tariffs against China. His comments weighed on the US Dollar (USD) and lifted Gold prices higher. Although renewed USD strength this morning following escalation between the US and Colombia is providing some headwinds to Gold in early morning trading."
"Trump’s softer tone towards China also pushed Copper and other base metals higher last week. Copper climbed to a two-month high above $9,300/t in Friday’s session after Trump’s comments have eased trade concerns, at least for now."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As the Bitcoin market continues to mature, its 2025 outlook appears highly favourable, driven by institutional adoption and regulatory developments.
West Texas Intermediate (WTI) Oil price gains ground for the second successive session, trading around $64.60 during the European hours on Tuesday.
With the close of June, the Dogecoin price has once again confirmed the bearish trend of the month.
SOL price is now correcting gains and might struggle to rise above the $155 resistance.
Silver consolidates the previous two days' gains and remains pinned near $37.00.
Related Instrument
