Gold prices experienced an increase in Asian trading on Wednesday, bolstered by renewed risk aversion after a U.S. court ruling sustained President Trump’s trade tariffs, impacting positive sentiment from recent U.S.-China trade developments.

Market Reaction to Tariff Sustenance

Despite initial optimism regarding U.S.-China trade relations, a U.S. appeals court ruling upheld Trump-era tariffs, which prompted caution in financial markets. This decision maintains tariffs while examining a previous ruling that sought to rescind them.

This judicial outcome pressured U.S. index futures, driving investors back to safe-haven assets like gold. This trend is particularly relevant leading up to key U.S. Consumer Price Index (CPI) data, which could further shape growth and interest rate expectations.

Current Gold Market Overview

• Spot gold prices rose 0.6% to $3,341.03 per ounce.

• Gold futures for August delivery increased 0.6% to $3,362.25 per ounce as of 04:29 GMT.

The uptick in gold prices reflects positioning by investors against the rising uncertainties surrounding trade policies and U.S. monetary movements.

U.S.-China Trade Framework’s Limited Impact

While a framework agreement for future U.S.-China trade discussions was announced, the lack of cohesive details kept investors skeptical. Promises around relaxing restrictions on rare earth and tech exports ignited some limited risk-on buying in Asian equities, but proved insufficient to impact gold prices significantly.

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