File photo: A seller shows gold beams in a jewelry store. | Photocredit: Krishnendu Halder
April 14, the gold prices fell from a record high on Monday after US President Donald Trump had excluded smartphones and computers from his mutual rates, although uncertainty about tariff plans kept prices above the significant $ 3,200 per ounce level.
Spot Gold lost 0.4 percent to $ 3,222.49 per ounce, from 0852 GMT. Earlier in the day, Bullion became a record high of $ 3,245.42.
US Gold Futures fell 0.2 percent to $ 3,238.50.
“Market sentiment was a bit improved this morning after President Trump electronics and smartphones had excluded American rates. This partly caused a dip in gold prices, probably because of profitable,” said Zain Vawda, an analyst at Marketpulse by Oanda.
Gold is traditionally seen as a hedge against geopolitical and economic uncertainty.
The White House announced exclusions of smartphones, computers and other electronics of steep mutual rates on China on Friday. On Sunday, however, Trump said that he would announce the rate percentage on imported semiconductors during the week.
Every decrease in gold prices is probably temporary, Vawda said.
“A deal of the US-China seems unlikely at any time, and the worldwide trading rates continue to form challenges, so that the demand for safe port assets such as gold is kept strong. In addition, the weakening US dollar adds further support to Gold’s profession,” Vawda added.
The US dollar reached the lowest level against his colleagues in three years, making Greenback priced Bullion cheaper for foreign buyers.
Gold has continued its burning meeting of the past year, so far increased by more than 23 percent and has been vaulted over the $ 3,200 for the first time on Friday. Bullion is supported by various factors, including economic uncertainty from the tariff plans of Trump, the demand for central bank and increased flows into funds -based funds.
Goldman Sachs has increased its Gold prediction to $ 3,700 at the end of the year, referring to a stronger than expected demand for central bank and increased recession risks that influence ETF inflow.
Spot silver was stable at $ 32.27 per ounce, while Platinum added 1 percent to $ 952.10. Palladium won 2.2 percent to $ 935.38.
Published on April 14, 2025
