Gold settles higher amid ongoing trade tensions

10/07/2025 Argaam

Gold bars

Gold prices edged higher on Thursday, as trade tensions intensified with the continued implementation of protectionist policies by US President Donald Trump.

 

August gold futures rose 0.14%, or $4.70, to settle at $3,325.70 per ounce.

 

This week, Trump began notifying countries of upcoming tariffs on their imports starting early next month. So far, letters outlining the new tariffs have been sent to 22 nations, including Japan, South Korea, and Brazil.

 

The renewed trade tensions increased investor appetite for gold as a safe-haven asset. However, gains were partially capped by the strengthening of the US dollar.

 

The US dollar index—which measures the greenback against a basket of six major currencies—rose by 0.13% to 97 points as of 9:34 pm Makkah time.

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