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Gold needs trade, rate clarity to break above $3,300, copper shows tariffs on gold can’t be ruled out – WGC’s Cavatoni
Gold’s continued consolidation near $3,300 per ounce shows the market is still waiting for clarity on interest rates and trade, and last week’s sudden announcement of tariffs on U.S. copper imports is a reminder that investors can’t be certain the same won’t happen for gold, according to Joe Cavatoni, Chief Market Strategist for North America at the World Gold Council. Cavatoni said that while he didn’t see Trump’s announcement of 50% tariffs on copper imports coming, he wasn’t surprised, either. “With respect to tariffs, and respect to critical minerals or strategic minerals or any metal that's going ... (full story)