AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

3/26/2025: Gold dips on dollar, yields

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold inched down less than 0.1% to close under $3,021 as Treasury yields and the dollar rebounded after better-than-expected durable goods data. But worries about Trump tariffs kept bullion near recent record highs. Silver added 0.1% to finish at $34.03 an ounce.

Orders for long-lasting goods jumped nearly 1% in February, far more than forecast, with orders for primary metals and appliances rising for the second straight month. While the headline gain was impressive, the bulk of the orders came from US manufacturers rushing to beat the higher prices caused by Trump tariffs on steel and aluminum.

Benchmark 10-year Treasury yields rose slightly on the upbeat data, weighing on gold by increasing the opportinity cost for holding it instead of bonds for safety.

The dollar bounced off recent lows to gain 0.4% against major rivals, pressuring gold by making it pricier in other currencies.

St. Louis Fed president Alberto Musalem said today that the inflationary consequences of tariffs are unlikely to be as transitory as the White House and Jerome Powell have said. Research at the St. Louis Fed has concluded that the tariffs announced so far may increase inflation by 1.2%.

The markets await this Friday's release of the PCE index, the Fed's preferred inflation gauge, for more clues about central bank policy.

Bullion has largely held its record gains because investors remain spooked by the turbulence caused by aggressive yet uncertain trade policies. New tariffs on autos are supposed to be announced today, but details so far have been contradictory.

Platinum slid 0.9% while palladium rose 2%.

At the New York spot close: gold dipped $2.80 to $3,020.90; silver added 3 cents, to $34.03; platinum shed $9.35 to $978.15; and palladium picked up $19.90 to $973.70 an ounce.