Yahoo Finance UK’s Vicky McKeever writes:
Gold under pressure from a stronger dollar, with prices of the precious metal dipping on Monday morning.
The spot price was down 0.2% to $2,634.93 per ounce, while gold futures fell 0.5% to $2.641.50 per ounce.
Gold had a solid start to 2025 last week, as investors geared up for Trump’s return to office. Investors tend to look towards safe-haven investments, such as gold, in times of geopolitical and economic uncertainty.
However, given that gold is typically traded in dollars, a stronger greenback also weighs on the precious metal.
According to Reuters, Nitesh Shah, commodity strategist at WisdomTree, said Trump’s tariff agenda providing a boost to the dollar has also put underlying pressure on metal markets.
“For most of the metals, the slowing of global trade has typically been coupled with a slowing economy and therefore slowing demand for metals,” he said.
