Gold surged to fresh all-time highs on Tuesday, buoyed by safe-haven demand amid President Trump’s Fed criticism and elevated U.S.-China tariff standoffs.
Price Action Snapshot
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Spot Gold: +0.6% to $3,442.48/oz (09:15 ET)
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June Gold Futures: +0.9% to $3,455.90/oz
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Intraday Peak: Briefly touched $4,500/oz
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YTD Performance: +30%, the best-performing commodity of 2025
Fed Independence Under Threat
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“Mr. Too Late” Jabs: Trump labeled Fed Chair Jerome Powell a “major loser,” pressing for immediate rate cuts.
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Firing Rumors: White House adviser Kevin Hassett confirmed the administration is studying Powell’s removal—stoking flight-to-safety flows.
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Market Reaction: ING analysts note these threats “sparked a flight to safe-haven assets.”
Trade War Pressures
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Tariff Escalation: U.S. duties on China now reach 145%, with Beijing retaliating at 125%.
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China’s Warning: Beijing cautioned against any U.S. trade pacts that undermine Chinese interests, threatening reciprocal measures.
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Dollar Weakness: The U.S. Dollar Index hit a three-year low, making gold more affordable for offshore buyers.
ETF Flows and Inventory Trends
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ETF Holdings: Gold ETF positions are at their highest USD value since September 2023, driven by rising prices.
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COMEX Stocks: Inventories have fallen by ~2 million oz since early April to just under 43.1 million oz, as tariff exemptions and negative arbitrage attract physical offtake.
What’s Next for Gold Traders
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Data to Watch:
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Fed Speeches: Any pushback or clarification on Powell’s tenure.
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Trade Updates: Progress (or setbacks) in U.S.-China negotiations.
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Inflation Reports: Key CPI and PCE prints for clues on real rate trends.
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Technical Levels: Monitor support near $3,300/oz and resistance around $3,600/oz.
Track Gold Prices in Real Time
For live and historical gold pricing, as well as other commodity data, check the
đź”— Commodities API
from Financial Modeling Prep.
This API delivers up-to-date quotes, inventory figures, and trend analysis essential for navigating the current safe-haven rally.
