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Bloomberg Quint

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Image Credit: Bloomberg Quint

Gold Erases Earlier Gains Amid Trump Tariff Volatility

  • Gold erased earlier gains to finish flat as a White House official said the US is moving forward with tariffs in China.
  • The White House said President Donald Trump is proceeding with tariffs that would amount to 104% on many Chinese goods. Meanwhile Chinese Premier Li Qiang said his country has ample policy tools to 'fully offset' negative external shocks.
  • US equities and bonds fell following large swings, while bullion erased gains of as much as 1.3% as investors tried pricing a global trade war in which Trump may be open to tariff deals, but negotiations won’t be easy.
  • Gold for immediate delivery was little changed at $2,982.92 an ounce at 5 p.m. in New York. Silver slipped, while palladium was flat and platinum edged higher.

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