WASHINGTON (dpa-AFX) - Gold prices fell slightly on profit taking Tuesday after climbing to over one-month highs on the back of tariff-related uncertainties.
Overall losses remain capped due to ongoing geopolitical and economic uncertainty, especially as investors weigh the potential impact of upcoming U.S.-EU trade negotiations and central bank policy decisions in Europe and the U.S.
Spot gold dipped 0.3 percent to $3,386.88 per ounce in European trade, while U.S. gold futures were down 0.3 percent at $3,397.17.
The dollar steadied after pulling back from two straight weeks of gains, weighing on bullion's appeal.
Traders await speeches from Fed Chair Jerome Powell and Governor Michelle Bowman later today for additional clues about what the U.S. central bank plans to do with interest rates.
Upcoming U.S. jobless claims data and the July business activity report, both due on Thursday, also remain on investors' radar following last week's mixed inflation indicators.
On the trade front, media reports suggest that the European Union is preparing to respond with a suite of retaliatory measures under its Anti-Coercion Instrument (ACI) following U.S. President Donald Trump's threat to impose a 30 percent tariff on EU goods from 1 August.
Elsewhere, the prospect of an interim trade deal between the U.S. and India before the August 1 deadline have dimmed due to persistent disagreements over key agricultural and dairy products.
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