Gold futures give back some gains but remain at a high level
Gold futures prices declined, giving back some of Monday's strong rebound gains, but remained high amid renewed trade concerns. Analysts at ING stated in a report that the resurgence of trade worries and escalating geopolitical tensions supported gold's safe-haven attributes. Trump previously threatened to double tariffs on steel and aluminum to 50% starting Wednesday, prompting Canada and the EU to indicate they would retaliate. Meanwhile, geopolitical tensions intensified following Ukraine's series of drone attacks on Russia, reinforcing gold's status as a safe-haven asset and supporting gold prices
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