Gold Slides As Trump Calms Fed Fears, Tones Down Tariff Talk

Benzinga

Gold prices dropped for a second straight session after President Donald Trump eased his tone on China tariffs and distanced himself from calls to remove Federal Reserve Chair Jerome Powell, according to Bloomberg. Trump said tariffs “will come down substantially,” but not to zero. This shift in tone, along with reassurance about Fed independence, pushed investors toward equities and bonds, causing bullion to fall as much as 3.6%. SPDR Gold Shares saw a $1.27 billion outflow on Tuesday. Spot gold fell to over $3,200 an ounce

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Gold prices dropped for a second straight session after President Donald Trump

00:05eased his tone on China tariffs and distanced himself from calls to remove Federal Reserve

00:10Chair Jerome Powell. And according to Bloomberg, Trump said tariffs will come down substantially,

00:15but not to zero. This shift in tone, along with reassurance about Fed independence,

00:20pushed investors towards equities and bonds, causing bullion to fall as much as 3.6 percent.

00:25Spider Gold's year saw a $1.27 billion outfall on Tuesday. Spot gold fell to over $3,200 an ounce.

00:32For all things money, visit Benzinga.com slash GSTV.

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