Gold rises to $2,035/oz on Trump tariffs, Fed uncertainty

Gold prices advanced 0.6% to $2,035 per ounce as Trump's escalating tariff threats and Federal Reserve policy uncertainty drive safe-haven demand. The precious metal benefits from a weakening dollar index at 105.35 and rising geopolitical tensions. EUR/USD trades at 1.0820 while USD/JPY holds at 155.10 as currency markets digest mixed signals. Trump's pressure on the Fed for rate cuts, despite inflation at 3.2%, creates monetary policy confusion that traditionally supports gold. Technical indicators show gold breaking above $2,030 resistance, targeting $2,050 next. The 50-day moving average at $2,015 now acts as support. Real yields declined to 2.1% from 2.3%, enhancing gold's appeal. With tariff implementation potentially sparking inflation while dampening growth, gold's hedge characteristics attract increased institutional interest. Traders should monitor Fed communications and concrete tariff announcements for further directional cues.