Gold prices stabilized as the dollar strengthened due to new tariffs
Gold prices recorded a relative stability on Friday, trading near the level of 3,290 dollars per ounce, in light of its trend to record the weakest weekly performance since the end of last June.
This decline is due to the rise of the US dollar, which gained momentum following the announcement of new customs measures by US President Donald Trump targeting several countries.
Full details of the new customs duties
Trump confirmed the imposition of basic global tariffs of 10%, with retaliatory duties of up to 41% applied to countries that do not have trade agreements with the United States.
The decisions also included a 40% tax on goods suspected of being diverted through third countries to avoid the current duties.
The deadline granted to Mexico was extended by 90 days, while retaining US tariffs on some of its sectors.
Raising customs duties on Canada from 25% to 35% by an executive decision.
India is facing 25% tariffs on its exports to the United States,
Taiwan 20%, Thailand and Malaysia 19%, while South Korea received 15% cuts after intensive negotiations.
Vietnam, Indonesia, the Philippines, Japan and Cambodia have already reached agreements.
Inflation fears and their impact on interest expectations
US economic data showed a rise in the core Personal Consumption Expenditures index during June, exceeding expectations, which increased fears of continued inflationary pressures in vital sectors.
These indicators have raised doubts about the possibility of a rate cut next September, especially as investors are now focusing on the US jobs report for July, scheduled for release today, which may provide decisive signals about the Fed's policy over the coming period.
