by Sybilla Gross and Yihui Xie
Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for havens.
Bullion traded near $3,240 an ounce — after losing 2.7% on Monday — with investors betting on a recovery in stocks and riskier assets. The world’s biggest economies agreed to temporarily lower tariffs, with the US slashing duties on Chinese products to 30% from 145% for a 90-day period, while Beijing dropped its levy on most goods to 10%.
The US dollar rose the most since a post-election rally in November, while Treasury yields climbed — both acting as headwinds for gold. Traders now see just two rate cuts from the Federal Reserve in 2025 in a reset of inflation expectations. That reduces bullion’s appeal as the metal pays no interest.
Gold remains almost a quarter higher this year, although the easing of US-China tensions has given traders a clear indication President Donald Trump’s administration is taking a softer. Still, some investors remain wary about the lack of detail in their announcement, and another flare-up could propel bullion back toward the record set last month.
“The devil is in the details during negotiations,” said Christopher Wong, a strategist from Oversea-Chinese Banking Corp. “Some degree of caution remains warranted, as we see consolidation in the range of $3,150 to $3,350 an ounce.”
Spot gold was steady at $3,239.66 an ounce at 12:31 p.m. in Singapore. The Bloomberg Dollar Spot Index eased, after rising 1% on Monday. Silver and platinum rose, while palladium was little changed.
Copyright Bloomberg News
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.
Arax acquires a boutique firm's $4 billion RIA business in Michigan as Steward Partners continues its Southwestern expansion.
Wealth management is a key focus for a new service tier.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
