Market Alert: Trump Revives Trade War Playbook with Tariff Threats

Gold Prices Stabilize as Investors Weigh Trade Talk Signals from the U.S.

Jul 15, 2025

Highlights:

  • Gold held near $US3,347 an ounce, at the time of writing, after a mild drop of 0.4%.
  • Rally has paused since April’s record high above $US3,500, as investors await clearer trade signals.
  • Analysts remain cautiously optimistic, citing potential upside if trade tensions escalate.

Gold prices held steady following a minor decline, as traders assessed fresh comments from U.S. leadership on global trade. At the time of writing, gold was trading near $US3,347 per ounce, recovering slightly after a 0.4% drop in the previous session.

U.S. President Donald Trump signaled a willingness to resume trade negotiations with major economies, including the European Union. This softened demand for safe-haven assets like gold. However, his stance appeared contradictory—describing letters sent to governments outlining tariffs as “the deals” themselves, casting uncertainty over the likelihood of genuine negotiations.

Gold’s 2025 Rally Pauses

Gold has soared over 25% in 2025, peaking above $US3,500 an ounce in April, fueled by the United States’ unpredictable trade policies and global economic concerns. The metal’s traditional role as a store of value during volatile times has drawn significant investor interest.

However, the rally has since lost steam. Over the past three months, gold prices have traded in a tighter range, as investors wait for clearer direction on trade agreements and hesitate to buy at current elevated levels.

Analysts Cautiously Optimistic

Market experts say the next big move in gold will depend heavily on developments in international trade. “If trade talks deteriorate before August, we could easily see bullion retest or even breach its former highs,” said Fawad Razaqzada, a market analyst at City Index. “For now, the market seems firmly in wait-and-see mode, keeping the gold forecast leaning cautiously bullish.”

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