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Gold up as Trump delays EU tariffs, dollar strength limits rally
28-May-2025 14:28
Gold glittered around $3315 per ounce in Asia on Wednesday as bargain hunters rushed in, eyeing a golden opportunity after recent weakness. The spotlight now shifts to the Fed's meeting minutes and Friday's PCE data, both set to steer the next big move. President Trump dialled back on 50 percent EU tariffs, pushing the deadline to July 9 and calming markets slightly. Still, a stronger dollar'boosted by a sharp rebound in US consumer confidence'kept a lid on gold's rally. Fed's Neel Kashkari urged caution, backing steady rates amid inflation uncertainties. On MCX, August gold futures gleamed, jumping ₹500 to touch a high of ₹96625 per 10 grams.

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