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Message: [QUOTE="Nehanda, post: 24327, member: 2262"] Gold Steady Near Record High as Trump Imposes China Tariffs. Gold prices held steady near an all-time high on Tuesday. This came after President Donald Trump placed 10% tariffs on Chinese goods. The move boosted demand for safe-haven assets. China quickly retaliated with various levies on US products. It also launched an antitrust probe into Google. The China trade war follows Trump's threat of 25% tariffs on Canada and Mexico. He later announced a one-month pause on those duties. Gold traded close to Monday's record peak above $2,830 an ounce. Uncertainty about the future is burnishing the metal's appeal as a store of value. The dollar's trajectory will be key. A stronger US currency makes gold pricier for many buyers. Major questions remain about how well the US and Chinese economies would weather a trade war. There are also concerns about the impact on monetary policy if tariffs fuel inflation. The Federal Reserve paused rate cuts last month and adopted a "wait-and-see" approach to the new administration's policies. Spot gold held at $2,814.42 an ounce in Singapore. The Bloomberg Dollar Spot Index was flat after a 1.1% gain over the past six sessions. Silver edged down, platinum was unchanged, and palladium rose. Trade war jitters shook precious metals markets even before Trump enacted the China tariffs. US gold and silver prices have jumped above global benchmarks recently, prompting dealers and traders to rush large volumes of the metals into the US ahead of any tariffs. The turmoil has also driven up lease rates for gold and silver. These rates reflect the return that holders of bullion in London vaults can earn by short-term lending. [/QUOTE]

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