SA mine closure continues to support palladium, which gained 0.1% putting it near a record high, as silver is up 0.1% but platinum dips 0.2%
Bengaluru — Gold edged up on Wednesday as investors sought safety from the threat of new US tariffs on Chinese goods coming into effect on December 15, while also awaiting policy decisions from major central banks.
“The trade war continues to be a factor supporting gold, there’s no easy solution to it and that uncertainty will keep gold prices up,” said Commerzbank analyst Eugen Weinberg. US President Donald Trump has days to decide whether to impose tariffs on nearly $160bn worth of Chinese goods, scheduled to take effect on Sunday.
“Should both [US and China] fail to reach positive consensus, gold prices will receive strength over lacklustre risk appetites for the near term,” Phillip Futures analyst Benjamin Lu said in a note.The US Federal Reserve will issue a statement on its December policy meeting later on Wednesday. Although the Fed is expected to leave interest rates unchanged, investors are eager to hear its outlook for the economy, which has been affected by the tariff war.
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