File image: A salesman shows gold bars inside a jewelry store.
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KRISHNENDU HALDER
April 14 Gold prices fell from a record high on Monday after US President Donald Trump excluded smartphones and computer systems from his reciprocal tariffs, though uncertainty round tariff plans saved costs above the numerous $3,200 per ounce degree.
Spot gold misplaced 0.4 per cent to $3,222.49 an oz, as of 0852 GMT. Bullion hit a document excessive of $3,245.42 earlier within the day.
US gold futures fell 0.2 per cent to $3,238.50.
“Market sentiment has improved a bit this morning after President Trump excluded electronics and smartphones from US tariffs. This has partly brought about a dip in gold costs, doubtless because of profit-taking,” stated Zain Vawda, an analyst at MarketPulse by OANDA.
Gold is historically seen as a hedge towards geopolitical and financial uncertainty.
The White Home on Friday introduced exclusions of good telephones, computer systems and different electronics from steep reciprocal tariffs on China. On Sunday, nonetheless, Trump stated he could be saying the tariff charge on imported semiconductors over the week.
Any drop in gold costs is prone to be non permanent, stated Vawda.
“A US-China deal appears unlikely anytime quickly, and world commerce tariffs proceed to pose challenges, preserving demand for safe-haven belongings like gold sturdy. Moreover, the weakening US greenback provides additional help to gold’s enchantment,” Vawda added.
The US greenback hit its lowest degree in three-years towards its friends, making greenback-priced bullion cheaper for abroad patrons.
Gold has continued its blazing rally from the final 12 months, rising over 23 per cent to date this 12 months and vaulting over the $3,200 mark for the primary time on Friday. Bullion has been supported by a wide range of components, together with financial uncertainty from Trump’s tariff plans, central financial institution demand and elevated flows into gold-backed exchange-traded funds.
Goldman Sachs has elevated its year-end gold forecast to $3,700, citing stronger-than-expected central financial institution demand and heightened recession dangers impacting ETF inflows.
Spot silver was regular at $32.27 an oz, whereas platinum added 1 per cent to $952.10. Palladium gained 2.2 per cent to $935.38.
Printed on April 14, 2025
