Gold Prices Fluctuate Amid US Tariffs, Inflation Data, Trade Talks

Gold prices have recently experienced volatility amid ongoing trade tensions and anticipation of U.S. economic data that could influence Federal Reserve policy. President Donald Trump has escalated trade disputes by announcing a 30% tariff on imports from the European Union and Mexico, following a broader tariff package affecting multiple countries. These trade uncertainties continue to weigh on market sentiment, contributing to fluctuations in gold prices which recently hit three-week highs before retreating slightly. The U.S. dollar's strength, reaching near three-week peaks, also pressures gold by making it more expensive for foreign buyers. Investors are closely watching upcoming U.S. inflation reports and other economic indicators, as expectations about Federal Reserve interest rate decisions remain a key factor for gold's movement. Additionally, silver has reached its highest level since 2011 due to supply deficits and strong demand, particularly in solar energy, while platinum and palladium prices have declined.