Trade uncertainty lifts gold from one-month low.

Arabian Sea Newspaper - Special

Global gold prices rose on Thursday from a one-month low, after trade uncertainty resulting from new announcements regarding US tariffs increased the precious metal's appeal, despite declining expectations of a US interest rate cut in September. Spot gold rose 0.6% to $3,295.37 per ounce by 04:24 GMT, after hitting its lowest level since June 30 at $3,267.79 in Wednesday's session. In contrast, US gold futures fell 0.2% to $3,289.30. This rise comes after US President Donald Trump issued a series of tariff decisions yesterday, Wednesday, including amendments to previously threatened tariffs on copper and Brazilian imports, in addition to ending tariff exemptions on small-value shipments coming from abroad. Trump also announced an agreement with South Korea that includes imposing a 15% tariff on imports of goods from it, and confirmed the continuation of negotiations with India after imposing a 25% tariff on its imports starting Friday. He also expressed optimism about trade negotiations with China, indicating that he expects to reach a "fair" agreement. At the same time, the US Federal Reserve kept interest rates unchanged, while the statements of the Council's Chairman contributed to a decline in the chances of an interest rate cut during next September. Gold is considered a safe haven in times of economic stress, and often performs well in a low interest rate environment. As for other precious metals, silver rose 0.2% in spot transactions to $37.21 per ounce. Platinum rose 1.6% to $1,333.45, and palladium gained 3.1% to $1,242.45.