Quote on Gold commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.
Below the Quote on Gold commentary by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd.
Gold prices edged higher as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-than-expected U.S. inflation print also supported bullion by strengthening expectations of rate cuts. Data showed that the U.S. CPI increased less than expected last month reported at 2.8% against the previous month of 3%. However, backdrop of aggressive tariffs on imports that are expected to raise the cost of most goods in the months ahead is keeping the overall inflation expectations higher in the market. President Trump early this month triggered a trade war, increasing tariffs on goods from China to 20% and imposing a new 25% duty on Canadian and Mexican imports, before dialing back and providing a one-month exemption for some goods that meet the rules of origin under the U.S.-Mexico-Canada Agreement on trade. Trump also reversed course on a pledge to double tariffs on steel and aluminum from Canada to 50%, hours after announcing the higher tariffs. Along with possible change in rate cut expectations, market participants will also keep an eye on US PPI data scheduled later today.
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