(Kitco News) – The gold market may be struggling to attract bullish momentum as it remains well below last month’s all-time high of $3,500 an ounce; however, investors are still reluctant to short the precious metal as it continues to hold support at $3,200 an ounce.
In a note on Tuesday, commodity analysts at TD Securities pointed out that gold is still above its lows following President Donald Trump’s “Liberation Day,” when he announced significant global tariffs on imported goods. He later removed the elevated tariffs and implemented a blanket 10% tax on all imports.
The U.S. government has since made further adjustments to its trade policy, announcing over the weekend that it would reduce tariffs on Chinese imports to 30%. While gold dropped 3% on Monday following improved U.S.-China relations, analysts at TDS expect the metal to remain well supported.
For the rest of this article: https://www.kitco.com/news/article/2025-05-13/gold-continues-hold-its-own-markets-continue-digest-improving-us-chinese