Daily Gold Update

Source:Bill Musgrave, American Gold Exchange

AustinGold surged 1.2% to close at a two-week high above $1,335 as a sinking dollar and wobbly equities boosted demand for safe-haven assets.

The dollar fell 0.5% against major rivals after President Trump appeared to soften his tariff rhetoric, easing global trade tensions and boosting the euro and UK pound. A falling dollar supports gold and other commodities by making them less expensive in other currencies.

Pushback from key Republicans like Speaker Paul Ryan, who warned of higher prices and lower growth unless tariffs are "surgical," helped to ease trade-war worries somewhat. The Dow vacillated between small gains and losses as investors remain nervous about protectionist trade policies nonetheless.

Safe-haven Treasury notes climbed alongside gold, depressing yields, as investors hedged against trade-war risk.

The other precious metals were also higher, with silver jumping 2.3% while platinum and palladium added 0.9% and less than 0.1%, respectively.

At the Comex close: April gold surges $15.30 to $1,335.20; May silver jumped 37 cents to $16.78; April platinum gained $8.50 to $970.60; and June palladium edged up 80 cents to $978.30 an ounce.