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    Home»Precious Metal»Gold Steadies as Markets Weigh Geopolitics, Tariffs, Rates Path
    Precious Metal

    Gold Steadies as Markets Weigh Geopolitics, Tariffs, Rates Path

    August 6, 20252 Mins Read


    (Bloomberg) — Gold steadied as traders assess the latest twists in US President Donald Trump’s trade strategy, geopolitical developments and the outlook for the Federal Reserve’s interest rate path.

    Most Read from Bloomberg

    Trump signed an executive order imposing an additional 25% tariff on India over its purchase of Russian energy, the White House said Wednesday, hours after talks between the US and Russia over the war in Ukraine failed to yield a breakthrough.

    Federal Reserve Bank of Minneapolis President Neel Kashkari, meanwhile, said a slowing of the economy may make a rate cut appropriate in the near term. Swap traders assigned a more than 90% chance of a rate cut for next month.

    Gold has climbed 29% this year as investors have sought safety amid heightened trade conflicts, geopolitical tensions and eroding trust in dollar-denominated assets. Still, the precious metal has been range-bound over the past few months, lacking new catalysts to surge past its record high of just over $3,500 an ounce reached in April.

    Spot gold was 0.1% lower at $3,376.31 an ounce as of 1:06 p.m. in New York. The Bloomberg Dollar Spot Index slipped 0.3%. Silver and platinum edged higher while palladium declined.

    –With assistance from Laura Avetisyan.

    Most Read from Bloomberg Businessweek

    ©2025 Bloomberg L.P.



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