14 April 2025 (Punjab Khabarnama Bureau): Gold prices retreated on Monday, April 14, after hitting a record high earlier, a development that came about as trade tensions eased, with US President Donald Trump exempting smartphones and computers from the reciprocal tariffs.
As a result, spot gold was down by 0.1 per cent hitting $3,232.45 an ounce. The yellow metal had hit a record high of $3,245.42 earlier. Meanwhile, US gold futures edged 0.1 per cent higher to $3,248.20.
“Softer US dollar has been assisting gold, but news of tech product tariff exemptions lifted risk appetite and caused safe-haven demand to ease,” A report by news agency Reuters quoted KCM Trade chief market analyst Tim Waterer as having said. “This has caused gold to lack clear direction.”
Trump’s tariff exemptions
The White House had announced on Friday, the exclusions from the steep reciprocal tariffs. However, Trump said on Sunday that the exclusion of smartphones and computers from his reciprocal tariffs on China will be short-lived.
As a result, gold prices on Friday vaulted over the $3,200-per-ounce mark for the first time.
Summary: Gold prices dip following U.S. President Trump’s temporary tariff exemptions on China, easing demand for the safe-haven asset despite ongoing trade uncertainties.