AGE Daily Gold Update

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

7/10/2025: Gold rises with trade anxiety

Source: Bill Musgrave, American Gold Exchange

Austin — New York spot gold gained 0.2% to close above $3,317 on safe-haven inflows despite upticks in Treasury yields and the dollar as traders digested the latest tariff salvos from the White House. Silver rose 1.9% to finish above $37 an ounce.

Present Trump announced 50% tariffs on Brazil effective August 1, citing his displeasure with the treatment of former President Jair Bolsonaro, a Trump supporter during his first term. Bolsonaro is on trial for plotting a coup to prevent his elected successor, current President Lula da Silva, from taking office, something Trump has dismissed as "a witch hunt."

It is the latest in a series of new tariffs that have reawakened dormant trade anxieties. Earlier this week, Trump levied 25% duties on major partners like South Korea, Japan, and12 other nations. Then he placed 20% to 30% duties on seven minor trading partners, including the Philippines, Sri Lanka, Iraq, and others. He also issued a 50% tariff on copper imports.

Benchmark 10-year Treasury yields edged higher after first-time jobless claims unexpectedly fell last week, fueling a mild appetite for risk on Wall Street. The Dow added 0.4% and the S&P 500 rose 0.3%.

Tracking higher with yields, the dollar picked up less than 0.1% against major rivals.

Platinum and palladium rose 1.8$ and 6.4%, respectively.

At the New York spot close: gold gained $5.80 to $3,317.40; silver jumped 69 cents to $37.04; platinum climbed $24.30 to $1,394.90; and palladium surged $71.70 to $1,186.90 an ounce.