XAU/USD is trading above $3,120 as markets anticipate forthcoming US trade measures. Dollar depreciation is mitigating the impact of increasing yields. President Trump is scheduled to announce tariff proposals, with potential options including a broad 20% duty or country-specific levies. Gold has appreciated by 23% since its post-election nadir. Market participants are closely monitoring the situation for potential price corrections should the implemented tariffs be less stringent than currently projected. Gold prices continued their upward trajectory on Wednesday, sustaining levels near record highs as markets await President Trump’s tariff announcement, expected around 20:00 GMT. Currently, XAU/USD is trading at $3,122, reflecting a 0.28% increase. The US is expected to unveil reciprocal tariffs designed to reduce the nation’s trade deficit. Previous announcements include a 25% duty on imported automobiles, and the suspension of tariffs on Mexico and Canada is anticipated to conclude on April 3.
