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Commodity News Details
Precious Metals Preview: COMEX gold recovers from around one-month low
03-Mar-2025 08:36

COMEX gold marches ahead on Monday morning in Asia, recovering from a one-month low registered on Friday, in tandem with sharp spike in US dollar index overseas after Trump confirmed that his proposed 25% tariffs on Mexico and Canada will take effect on March 4, along with additional 10% duty on Chinese goods. Moreover, US GDP for Q4 2024 came in as expected at 2.3%, confirming steady economic growth. The Commerce Department over the weekend said its personal consumption expenditures (PCE) price index rose by 0.3 percent in January. The annual rate of growth by the PCE price index slowed to 2.5 percent in January from 2.6 percent in December. The yellow metal fell around 2.5% last week and is currently quoting at $2878.50 an ounce, up 1% on the day.

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