Gold is trading firmly amid trade uncertainty – Commerzbank

Gold prices are once again supported by geopolitical uncertainty. While prices dipped slightly after tariff delays, ongoing trade tensions continue to drive demand for the safe-haven meta, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

Tariff risks keep safe-haven demand elevated

"The price of Gold is once again benefiting from the geopolitical situation. It has fallen again somewhat after Trump postponed an increase in tariffs against the EU and a US court ruled that most of the tariffs were illegal."

"However, it is unclear whether the US administration will be impressed by this or whether it will find another way to introduce the tariffs. Uncertainty in the trade conflict is therefore likely to remain high until the negotiations are finalised, meaning that demand for the precious metal, which is considered a safe haven, should also remain high for the time being."