Safe-haven demand lifts gold to 2-week peak, focus on Fed meet

By: Admin
3 hours ago
130

May 6 (Reuters) - Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve's policy decision this week was also in focus.

Spot gold rose 1.2% to $3,372.01 an ounce, as of 0810 GMT, after hitting its highest since April 22 earlier in the session.

"The structural factors that supported gold in recent weeks are all still around - trade tensions are not fixed, concern about the dollar as a reserve currency," said UBS analyst Giovanni Staunovo.

"We are still looking for gold to retest the $3,500 mark this year."

https://www.reuters.com/markets/commodities/gold-hits-two-week-high-safe-haven-demand-fed-decision-looms-2025-05-06/