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Precious Metals Preview: COMEX gold rebounds by over half a percent in early Asia
08-May-2025 08:46

COMEX gold futures climbed by over half a percent on Thursday morning in Asia amid renewed uncertainty on trade tariff that boosted appeal for the safe haven metal. US President Donald Trump reduced hopes for a quick resolution to the US-China trade war by saying that he is in no real hurry to sign any deals. Moreover, geo-political concerns in Middle East and also underpinned demand for the yellow metal. Meanwhile, the Federal Reserve held its key interest rate unchanged in a range between 4.25%-4.5% at the end of a two-day monetary policy meeting on Wednesday and stated that the uncertainty about the economic outlook has increased further, but failed to boost the dollar which further supported gold prices. Currently, the counter is quoting at $3410.60 an ounce, up 0.55% on the day.

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