Gold prices remained near their all-time high at around $2,810 per ounce on Tuesday, as investors sought safe-haven assets amidst rising trade tensions.
Gold holds near record high amid trade fears
China retaliated against the US's 10% tariff on Chinese goods with its own tariffs on American products. While the US has postponed tariffs on Mexico and Canada, concerns about the trade war persist. Gold's traditional role as a hedge against inflation and geopolitical instability is attracting investors. However, the inflationary pressures caused by tariffs could lead to higher interest rates, which could negatively impact gold.
Jobs report key for Fed outlook
Investors are now focused on upcoming US labor market data, especially Friday's nonfarm payrolls report, which could provide clues about the economy's health and the Federal Reserve's next policy moves.
