市場分析

Gold Edges Higher as Trump Delays Tariffs, Weakening the Dollar

Amos Simanungkalit · 06 Mar696.1K 閱讀

Image Credit: Reuters

Gold prices rose slightly in Asian trading on Thursday as the U.S. dollar dropped to a four-month low, fueled by signs that President Donald Trump may be willing to negotiate his recently imposed trade tariffs.

Spot gold increased by 0.1%, reaching $2,921.42 per ounce, while gold futures for April delivery gained 0.1%, hitting $2,929.49 an ounce by 01:15 ET (06:15 GMT).

Dollar Weakens Amid Tariff Delay; Payroll Data Looms

Gold prices edged up as the U.S. Dollar Index weakened by 0.2%, falling to a four-month low after President Trump delayed imposing auto tariffs on Canada and Mexico for a month. The White House signaled that Trump is open to considering more tariff exemptions following the effective date of tariffs on Tuesday. This delay is seen as a potential softening of his trade stance, reducing immediate concerns about escalating trade tensions.

As the dollar weakened against major currencies, gold, priced in dollars, became more attractive to investors. Gold is also viewed as a safe haven asset during periods of economic uncertainty, and the recent trade policy changes have boosted its appeal.

Market participants are cautious ahead of the U.S. payroll data report scheduled for release on Friday. This data could provide insight into the Federal Reserve’s future interest rate decisions, especially after recent inflation data that has reinforced the Fed's hawkish stance.

Other Precious Metals Mixed

Other precious metals showed mixed results. Platinum futures dropped 1.1% to $973.76 an ounce, while silver futures edged up 0.2% to $33.213 an ounce.

Copper Hits 3-Week High on China Stimulus, Dollar Weakness

Copper prices climbed to a three-week high on Thursday, bolstered by the weakening dollar. Optimism also grew from fresh economic stimulus measures introduced by China, as the country’s "Two Sessions" parliamentary meetings got underway.

During the National People’s Congress, China announced a comprehensive stimulus package to support economic growth amid rising trade tensions with the U.S. This package includes a 5% growth target, an increased budget deficit of 4%, and the issuance of 1.3 trillion yuan ($179 billion) in special treasury bonds.

Investors expect additional policy measures to stimulate infrastructure and manufacturing, sectors that drive copper demand.

Benchmark copper futures on the London Metal Exchange rose 0.3% to $9,611.05 per ton, reaching their highest level since mid-February, while copper futures for April delivery fell 0.7% to $4.7718 per pound.