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📍 New York, July 11, 2025 — Gold prices rose modestly on Friday following renewed tariff threats from President Donald Trump, which spurred safe-haven demand amid growing global trade uncertainty. However, gains were capped by a stronger U.S. dollar, while platinum and silver outpaced gold with multi-year highs.
📈 Market Performance
- Spot gold climbed 0.5% to $3,341.27/oz
- Gold futures (September) rose 0.9% to $3,354.60/oz
- Silver futures surged 2.2% to $38.14/oz, a 14-year high
- Platinum futures gained 0.3% to $1,420.25/oz, nearing an 11-year peak
💬 Drivers of Market Movement Trump’s announcement of a 35% tariff on Canadian imports, alongside broader levies targeting other trade partners, triggered a risk-off sentiment across financial markets. Geopolitical tensions in the Middle East, particularly the ongoing Israel-Hamas conflict, further supported demand for safe-haven assets like gold.
Despite these tailwinds, gold’s upside was limited by a firm dollar, which posted its best weekly performance since February, making bullion more expensive for non-dollar holders.
🔍 Outlook Gold remains rangebound between $3,300 and $3,500/oz, with investors closely watching upcoming Federal Reserve minutes for clues on interest rate policy. Meanwhile, platinum and silver continue to benefit from tight supply forecasts and rising industrial demand, positioning them as standout performers in the precious metals sector.
For full market analysis, see the report from Investing.com and Thor Metals Group.
