[BENGALURU] Gold prices edged up on Tuesday (Apr 15) amid continued uncertainty over US President Donald Trump’s tariff plans and their impact on the global economy.
Spot gold was up 0.1 per cent at US$3,211.49 an ounce, as at 0000 GMT. Bullion hit a record high of US$3,245.42 in the previous session.
US gold futures edged up 0.1 per cent to US$3,227.90.
The Trump administration is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on the grounds that extensive reliance on foreign production of medicine and chips is a national security threat, Federal Register filings on Monday showed.
Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on edge.
Non-yielding gold, a traditional hedge against global uncertainties and inflation, also tends to thrive in a low-interest-rate environment.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Americans’ expectations for near-term inflation hit the highest level since the fall of 2023 in March.
Traders see around 86 basis points worth of interest rate cuts by the end of 2025.
Meanwhile, investment flows into Chinese physically backed gold exchange-traded funds so far this month have exceeded those for all of the first quarter and overtaken inflows registered by US-listed funds, World Gold Council data showed.
Spot silver lost 0.3 per cent to US$32.26 an ounce, platinum fell 0.3 per cent to US$948.60 and palladium eased 0.6 per cent to US$950.25. REUTERS
Share with us your feedback on BT’s products and services
