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
Spot Gold: +0.6% to $3,442.48/oz (09:15 ET)
June Gold Futures: +0.9% to $3,455.90/oz
Intraday Peak: Briefly touched $4,500/oz
YTD Performance: +30%, the best-performing commodity of 2025
Fed Independence Under Threat
“Mr. Too Late” Jabs: Trump labeled Fed Chair Jerome Powell a “major loser,” pressing for immediate rate cuts.
Firing Rumors: White House adviser Kevin Hassett confirmed the administration is studying Powell’s removal—stoking flight-to-safety flows.
Market Reaction: ING analysts note these threats “sparked a flight to safe-haven assets.”
Trade War Pressures
Tariff Escalation: U.S. duties on China now reach 145%, with Beijing retaliating at 125%.
China’s Warning: Beijing cautioned against any U.S. trade pacts that undermine Chinese interests, threatening reciprocal measures.
Dollar Weakness: The U.S. Dollar Index hit a three-year low, making gold more affordable for offshore buyers.
ETF Flows and Inventory Trends
ETF Holdings: Gold ETF positions are at their highest USD value since September 2023, driven by rising prices.
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
Data to Watch:
Fed Speeches: Any pushback or clarification on Powell’s tenure.
Trade Updates: Progress (or setbacks) in U.S.-China negotiations.
Inflation Reports: Key CPI and PCE prints for clues on real rate trends.
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? Commodities APIfrom Financial Modeling Prep.This API delivers up-to-date quotes, inventory figures, and trend analysis essential for navigating the current safe-haven rally.
