Gold Gives Back All of Last Week's Gains as Tariff Delay and Stronger Dollar Weigh on Prices

Gold futures prices continued to decline, erasing all of Friday's rebound gains. However, they are still up nearly 23% year-to-date. Trade Nation analyst David Morrison stated in a report that the price of this precious metal surged on Friday after President Trump announced a 50% increase in tariffs on the EU, but the gains retreated after the Trump administration postponed the tariffs for five weeks over the weekend. Morrison noted that a stronger dollar on Tuesday added further downward pressure. He added that despite the early week decline, overall dollar weakness and market uncertainty still make gold a defensive investment choice for traders.