WASHINGTON (dpa-AFX) - Gold edged lower on Wednesday due to profit taking after four days of gains.
Spot gold fell half a percent to $3,365.01 per ounce in European trade while U.S. gold futures were down 0.4 percent at $3,419.85.
The dollar index edged lower, and Treasuries steadied after dropping in the prior session as investors reacted to weak U.S. services activity data released overnight and looked forward to President Donald Trump's decision on Federal Reserve appointments.
Trade tensions were also in focus after Trump called a pledge of investment totaling $600 billion made in the EU-U.S. trade deal a gift and threatened the EU with 35 percent blanket tariffs if it fails on the pledge.
Trump also said that tariffs on semiconductor and chip imports would be announced as soon as next week to boost U.S. manufacturing and that planned tariffs on pharmaceuticals imported into the U.S. could eventually reach as high as 250 percent.
Swiss President Karin Keller-Sutter is in Washington to present 'a more attractive offer' to the White House in a last-minute attempt for a deal to lower the 39 percent tariff imposed last week.
Elsewhere, Trump said that he would increase the tariffs charged on Indian imports 'very substantially' over the next 24 hours because of India's continued purchases of Russian oil.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
