Gold prices rose on Tuesday, driven by escalating trade tensions between the U.S. and its major trading partners, along with a softer U.S. dollar. Spot gold gained 1% to $3,013.34, recovering from recent lows, while U.S. futures climbed 1.9%, reaching $3,028.40.
This rebound comes after gold hit a record high of $3,167.57 on April 3, driven by geopolitical uncertainties, strong central bank demand, and increased investments in gold-backed exchange-traded funds.
Analyst Zain Vawda of MarketPulse by OANDA highlighted the role of a weaker dollar and ongoing trade tensions in supporting gold's upward momentum.
The U.S. dollar index dipped, making gold less expensive for overseas buyers. As the trade war escalates, with the U.S. imposing tariffs and China pushing back, gold prices are likely to stay on an upward trajectory. Market watchers are also focused on the U.S. Federal Reserve’s upcoming policy meeting, anticipating a potential rate cut, which would further benefit gold.
Gold’s rally is supported by economic uncertainty and the market’s reaction to trade developments, with traders eyeing $3,100 as the next major resistance level.
As the massive pink-hulled container ship ONE Modern pulls into the Port of Hong Kong, its crew rushes to offload more than 700 containers within a tight 10-hour window.
For years, companies have navigated stringent U.S. data requirements for sensitive exports. Now, in a significant turn, China is implementing a similar system for its critical rare earth minerals, asking Western firms for proprietary business information and signaling a new global standard.
Chinese Vice Premier He Lifeng will visit the UK from June 8–13 for the first round of China-U.S. economic and trade consultations. Talks will include U.S. Treasury and Commerce Secretaries and Trade Representative Jamieson Greer.
As the U.S.-China trade standoff intensifies, Beijing has released a striking video vowing to resist pressure and uphold its global trade role, accusing Washington of economic coercion.
China cut benchmark lending rates for the first time since October on Tuesday, while major state banks lowered deposit rates as authorities work to ease monetary policy to help buffer the economy from the impact of the Sino-U.S. trade war.
At least three people have been killed and several others injured after an Iranian missile struck the southern Israeli city of Be'er Sheva, hitting a residential building.
Iranian state-run outlet Press TV has reported that nuclear scientist Mohammad Reza Siddiqi was assassinated in a targeted attack in northern Tehran.
At least 71 people have been killed and 20 injured in a terror attack on a village in Niger’s Tillaberi region, local media reported.
Iranian Deputy Foreign Minister Abbas Araghchi says there is no ceasefire agreement with Israel, directly rejecting U.S. President Donald Trump’s earlier claim of a truce between the two countries.
Three powerful explosions were reported early Tuesday at Al-Taji military base, about 30 kilometres north of Baghdad.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
At least three people have been killed and several others injured after an Iranian missile struck the southern Israeli city of Be'er Sheva, hitting a residential building.
Iranian state-run outlet Press TV has reported that nuclear scientist Mohammad Reza Siddiqi was assassinated in a targeted attack in northern Tehran.
At least 71 people have been killed and 20 injured in a terror attack on a village in Niger’s Tillaberi region, local media reported.
Iranian Deputy Foreign Minister Abbas Araghchi says there is no ceasefire agreement with Israel, directly rejecting U.S. President Donald Trump’s earlier claim of a truce between the two countries.
Three powerful explosions were reported early Tuesday at Al-Taji military base, about 30 kilometres north of Baghdad.
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