Gold Surges Amidst Tariff Turmoil

Spot pricing for Gold $AU5112

Spot pricing for Silver $AU51.09

Spot pricing for Platinum $AU1530

Gold has surged higher as fresh tariff uncertainty rattled global markets. The yellow metal found strong support as investors sought a hedge against increasing geopolitical friction, particularly after several Western governments signalled potential retaliatory tariffs on Chinese electric vehicles and technology exports. Spot gold is currently trading at $AU5112, with demand fuelled by safe-haven buying and a general lack of confidence in ongoing trade negotiations. The rally has also been supported by lingering expectations of rate cuts later this year, which would likely soften the US dollar and benefit gold further.

After a shaky start to the week, global equity markets have staged a cautious recovery. Investors welcomed a string of better-than-expected earnings in the US tech sector and softer-than-expected inflation data in Europe. However, many remain wary. Persistent inflation in key economies continues to weigh on sentiment, with central banks hesitant to declare victory. The rebound comes against a backdrop of simmering global tension and trade reconfigurations, with strategists warning that this recovery could be short-lived. A key concern is whether recent economic resilience is strong enough to outpace policy uncertainty and the delayed drag from high interest rates.

Exporters in the US and Europe are facing grim short-term prospects as they scramble to reassess their cost structures in light of expected retaliatory tariffs from China. The tech sector, in particular, is being squeezed as multinational companies are forced to re-budget around potentially steep tariff hikes on semiconductors, batteries, and advanced manufacturing tools. Many firms are now flagging reduced earnings expectations for the next quarter. Analysts say this could bleed into employment and capital expenditure decisions, placing additional downward pressure on growth projections in both the EU and the US.

After touching a fresh low of USD 0.59 earlier this week, the Australian dollar has bounced back on the back of stronger-than-expected domestic data and a rebound in commodity prices. While concerns remain about Australia’s exposure to China’s slowing industrial sector, the recovery in iron ore and energy prices—combined with growing speculation that the RBA may hold interest rates higher for longer—has given the AUD some much-needed support. As of this morning, the Aussie dollar is trading at 0.6337, retracing much of its recent weakness.

Enjoy today’s charts.

Gold daily chart, with 200MDA

Silver daily chart, with 200MDA

US500, with 200MDA

ASX200, with 200MDA