2026.02.2501:25:12UTC+00Gold Moves Higher

Gold climbed to around $5,180 per ounce on Wednesday, recovering part of the previous session’s losses, as heightened trade and geopolitical uncertainty underpinned demand for the safe-haven metal. The move came after US President Trump’s new 10% global tariff took effect on Tuesday, with his administration signaling an intention to raise the rate to 15%. On Monday, Trump further warned that higher tariffs could be imposed on countries that “play games” with recent trade agreements.

At the same time, investors are closely monitoring the resumption of US-Iran nuclear talks on Thursday, after Iran pledged on Tuesday to do “whatever it takes” to secure a nuclear deal with Washington.

Still, bullion’s gains were capped by waning expectations of near-term monetary easing from the Federal Reserve. Boston Fed President Susan Collins said it will likely be appropriate to keep interest rates on hold for some time, noting that recent data suggest an improving labor market even as inflation risks remain elevated.