New Straits Times on Nostr: Gold hits all-time high on China-US tariff war ========== On February 5, 2025, gold ...
Gold hits all-time high on China-US tariff war
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On February 5, 2025, gold prices reached a record high of US$2,858.12 per ounce amid escalating trade tensions between the US and China. Spot gold rose 0.5% to US$2,855.32 by 0501 GMT, while US gold futures increased by 0.3% to US$2,884.60. The trade war intensified as China imposed tariffs on US imports in retaliation to US duties on Chinese goods. OANDA's Kelvin Wong noted a surge in safe haven demand for gold due to these tensions. President Donald Trump indicated he was not in a rush to negotiate with Chinese President Xi Jinping. Analysts predict that if the trade war escalates, gold could reach the $3,000 mark, with China potentially increasing its gold reserves. Federal Reserve officials expressed concerns about inflation risks from trade tariffs, which could affect interest rate decisions. Spot silver and platinum also saw price increases, while palladium experienced a slight decline.
#Gold #TradeWar #Us #China #Economy #Tariffs #Inflation #FederalReserve #PreciousMetals #MarketAnalysis
https://www.nst.com.my/business/economy/2025/02/1170909/gold-hits-all-time-high-china-us-tariff-war
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On February 5, 2025, gold prices reached a record high of US$2,858.12 per ounce amid escalating trade tensions between the US and China. Spot gold rose 0.5% to US$2,855.32 by 0501 GMT, while US gold futures increased by 0.3% to US$2,884.60. The trade war intensified as China imposed tariffs on US imports in retaliation to US duties on Chinese goods. OANDA's Kelvin Wong noted a surge in safe haven demand for gold due to these tensions. President Donald Trump indicated he was not in a rush to negotiate with Chinese President Xi Jinping. Analysts predict that if the trade war escalates, gold could reach the $3,000 mark, with China potentially increasing its gold reserves. Federal Reserve officials expressed concerns about inflation risks from trade tariffs, which could affect interest rate decisions. Spot silver and platinum also saw price increases, while palladium experienced a slight decline.
#Gold #TradeWar #Us #China #Economy #Tariffs #Inflation #FederalReserve #PreciousMetals #MarketAnalysis
https://www.nst.com.my/business/economy/2025/02/1170909/gold-hits-all-time-high-china-us-tariff-war