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Gold falls as US and EU near tariff deal
Business World Philippines
|July 25, 2025
GOLD PRICES extended losses on Wednesday following reports that the US and European Union (EU) were closing in on a 15% tariff deal, dampening safe-haven demand, while silver earlier surged to its highest level since September 2011.
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Spot gold was down 1.1% at $3,394.64 per ounce, as of 2:33 p.m. ET (1833 GMT), after hitting its highest point since June 16 earlier in the day. US gold futures settled 1.3% down to $3,397.60.
“So we're seeing a trade deal with Japan and looking at one with the EU. Ultimately, it means no major retaliatory tariffs from the EU, which has supported risk appetite... equity markets are doing pretty well,” said Bart Melek, head of commodity strategies at TD Securities.
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