Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
Gold price loses momentum to around $2,795 in Monday’s early Asian session. Trump delivers on the promise of 25% levies on Canada and Mexico, a 10% duty on China. Fed rate-cutting cycle and safe-haven flows might help limit the Gold price’s losses. Gold price edges lower to around $2,795 during the early Asian session on Monday. The yellow metal faces some pressure from the stronger Greenback after US President Donald Trump set tariffs over the weekend.
Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. Who buys the most Gold? Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency.
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