Perspective by Mr. Colin Shah, MD, Kama Jewelry
“Gold prices rose primarily due to the fall in the Dollar Index. President Trump indicated a staggered and gradual import tariff vs a one-off announced earlier.
The softening of dollar prices provided strength to the yellow metal. COMEX gold also saw some strength, trading near the $2,720 level. The dollar weakened following reports that Trump may impose lower or staggered tariffs, rather than the higher, one-time tariffs previously anticipated.
A weaker dollar makes gold more attractive to foreign buyers, supporting the precious metal’s appeal. Gold prices has the potential to hit the $3000/oz level if Trump decides to impose his tariffs as planned earlier.
Two things will be keenly watched moving ahead: the US interest rates and the movement of USD/DXY. We expect gold to remain a focal point in the near term until further clarity emerges on Trump’s tariff policies.”
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