Global gold price today May 13 2025
Gold Price Rises Slightly to $3,236.64 per Ounce Amid U.S.-China Tariff Truce
According to a report by teh International Economics Desk of webangah News Agency,citing Reuters via Tasnim News agency,gold prices traded near their lowest weekly level during Tuesday’s session,following a recent decline. The temporary truce in retaliatory tariffs between the U.S. and China has boosted investor appetite for riskier assets, reducing demand for gold as a safe haven.
Today, the price of gold per ounce rose by 0.01%, reaching $3,236.64. Simultaneously occurring, gold futures on New york’s COMEX market saw a 0.38% increase, settling at $3,240.20.
The U.S.and China announced their decision to reduce future tariffs after two days of negotiations in Geneva. The U.S. will lower its import duties on Chinese goods from 145% to 30%, while China will reduce its tariffs on American imports from 125% to 10%.Global Gold Prices Today – May 12, 2025
The U.S. and China imposed retaliatory tariffs on each other’s imports last month, sparking a trade war. Analysts believe the prospect of improved trade relations between the world’s two largest economies has boosted investor appetite for riskier assets, reducing demand for gold as a safe-haven asset.
Adriana Kugler, a Federal reserve official, stated that halting high import tariffs has lowered the likelihood of the central bank cutting interest rates in response to an economic slowdown. Traders are awaiting the U.S. Consumer Price Index (CPI) report for fresh clues on the Fed’s monetary policy.
Markets expect the U.S.central bank to cut interest rates by 55 basis points this year,starting in September. Gold has historically served as a safe haven during political and economic instability, and a low-interest-rate environment favors its performance. Analysts…City Bank predicts that gold prices will remain between $3,000 and $3,300 in the short term.
Among other precious metals, silver rose by 1.38% to reach $33.08, while platinum saw a 0.58% increase, trading at $988.63.End of message/14
