Global gold price surges today May 28 2025
According to webangah News Agency, citing Reuters, gold prices fell during Wednesday’s trading session despite increased investor demand. Easing trade tensions between the U.S. and the European Union has prevented further price increases for the precious metal.Markets now await the release of U.S. personal consumption expenditure data for clues about the Federal Reserve’s interest rate policy.
The spot price of gold declined by 0.07% to $3,298.67 per ounce today,while gold futures on New York’s COMEX market dropped 0.23% to $3,320.80.
In his latest move, Donald Trump has stepped back from imposing 50% tariffs on EU imports and delayed their implementation until July 9 to allow continued negotiations between the White House and the bloc’s 27 member states.
Analysts believe gold prices below $3,300 have attracted more buyers but note that reduced U.S.-EU tensions will likely prevent sustained price rallies for the precious metal.
Market experts suggest that if gold remains in the $3,250-$3,280 range,it could potentially rebound to $3,400 as investors become more risk-averse.
Traders are closely monitoring upcoming U.S. personal consumption expenditure figures to gauge potential federal Reserve interest rate moves.
Temporary easing in U.S.-China trade tensions has meanwhile boosted consumer confidence in America.
The Federal Reserve has maintained interest rates at 4.25%-4.50% since December as officials assess how Trump’s new tariffs might impact inflation and economic growth.
Among othre precious metals: silver rose 0.10% to $33/35 while platinum fell 0/54%to$1/07880
