Gold Pauses Recovery Amid U.S.–China Tariff Truce and Dollar Strength

Gold prices held steady in Asian trade Tuesday after Monday's sharp losses driven by a U.S.-China tariff de-escalation, with the metal caught between hopes for further relief in trade tensions and anticipation of key U.S. inflation data—and a resurgent dollar.

Gold's Price Action

• Spot Gold: Flat at $3,236.95/oz

• June Futures: +0.4% to $3,240.42/oz by 00:26 ET (04:45 GMT)

To monitor live bullion prices and futures, investors can tap the Commodities API, which delivers up-to-date spot and futures quotes for gold and other precious metals.

Trade Deal Drains Safe-Haven Demand

The 90-day tariff truce—cutting U.S. levies on China to 30% (from 145%) and China's on U.S. imports to 10% (from 125%)—sent equities soaring (S&P +3.3%, Nasdaq +4.4%). With risk assets back in favor, gold's haven bid weakened sharply on Monday, triggering the prior session's pullback.

Dollar Rebound Caps Gains

Monday's trade optimism also bolstered the U.S. dollar, which climbed against major currencies—eroding gold's appeal. A stronger greenback makes bullion costlier for overseas buyers, limiting any near-term recovery.

Eyes on U.S. CPI

Traders are bracing for April's Consumer Price Index—due Wednesday—to assess whether tariffs are rekindling inflation. A hotter-than-expected print could further lift the dollar and pressure gold, while a softer reading might allow for a renewed safe-haven bid.

Stay ahead of the data release by checking the Economics Calendar API for exact timing and consensus estimates.

Other Precious Metals

• Silver Futures: +1.7% to $33.16/oz, after a sharp drop

• Platinum Futures: +0.5% to $982.65/oz

Like gold, these metals have been pulled lower by the shift back into equities and the dollar's rebound, though they too stand ready for any fresh safe-haven rotation or inflation surprise.

What to Watch:

1. U.S. CPI Surprise Risk: A higher print may cement dollar strength, capping gold.

2. Further Trade Truce Signals: Any extension beyond 90 days or deeper cuts could revive bullion.

3. Dollar Index Moves: Continued greenback gains will keep a lid on precious-metal rallies.

By combining real-time price feeds via the Commodities API with inflation-event alerts from the Economics Calendar API, investors can navigate gold's volatility amid shifting macro drivers.