Gold Futures Gain on Market Uncertainty, Weaker Dollar - chof 360 news

1151 GMT – Gold futures rise on a weaker U.S. dollar and market uncertainty. Futures are up 1.2% to $2,882.90 a troy ounce. Volatility is likely in the short term as geopolitical and economic factors affect sentiment, Exness strategist Maria Patti says in a note. Additional U.S. tariffs could potentially intensify trade tensions and drive investors towards safe-haven assets, though a possible rollback of levies on Mexico and Canada could boost market confidence and spark a risk-on attitude, Patti says. Peace talks in Europe add to gold’s uncertain trajectory. Optimism and hopes of de-escalation in Ukraine could be revived after Ukrainian President Volodymyr Zelensky’s meeting with European leaders, Patti writes. Upcoming U.S. economic data, including PMI and Nonfarm Payrolls, could also play a role—strong data could reinforce the Federal Reserve’s hawkish stance and weigh on gold, she adds. (

Base Metal Prices Rise; Copper Set to Gain on Resilient Demand, Limited Supply

1044 GMT – Base metal prices rise, with LME three-month copper up 0.1% at $9,368 a metric ton and LME three-month aluminum up 0.35% at $2,613.0 a ton. Resilient demand and limited supply growth should keep the refined copper market tight in the second half of 2025 and through 2026, keeping JPMorgan medium-term bullish on prices. A near-term pullback is possible on slack Chinese demand and potential U.S. tariff volatility, though global demand should begin stressing copper balances later this year, JPM analysts say in a note. U.S. inventory builds ahead of a potential copper tariff could leave the rest of the world short on copper supplies than expected, driving more significant copper tightening in China and Asia into the summer, JPM says. The bank sees copper rising to $10,400 a ton over the second half of 2025. ([email protected])