Gold prices fell and the U.S. dollar weakened after President Donald Trump delayed the implementation of 50% tariffs on the European Union on Sunday. Experts predict that a dip could be an “opportunity” to buy for the long term amid the ongoing policy uncertainty.
What Happened: President Trump threatened the EU with 50% tariffs on Friday and on Sunday extended the deadline for the imposition of the duties to July 9.
This led to a fall in the prices of the precious yellow metal and the US and Euro currency pair.
Aksha Kamboj, the executive chairperson at Aspect Global Ventures told Benzinga, “The recent tariff threat made by U.S. President Donald Trump on the European Union and the subsequent withdrawal in the early hours of the morning could result in some profit booking in gold prices, as sentiment turns towards risk assets like equities again.”
The extension led the futures of Dow Jones, S&P 500, and Nasdaq 100 indices higher, which ended lower on Friday after the announcement.
Kamboj also cautioned that the upside …