Gold prices slipped below the US$4,100 level on Thursday, rebounding from early Asian losses, as renewed geopolitical and trade tensions bolstered safe-haven demand.
By 4:30 pm AEDT (5:30 am GMT), spot gold was down 0.2% at US$4,091.69 per ounce.
Earlier in the session, the metal had dipped toward $4,065 before recovering as risk aversion swept through markets.
The United States dollar found fresh support from haven flows after reports that Washington is weighing new export restrictions on software-based products to China.
According to Reuters, the plan could include a wide range of goods, from laptops to jet engines, in retaliation for Beijing’s latest curbs on rare earth exports.
At the same time, geopolitical tensions intensified after President Donald Trump announced sanctions on Russia’s largest oil companies, accusing Moscow of showing no genuine commitment to ending its war in Ukraine.
The move added to a growing list of market risks that have fuelled volatility across global asset classes this week.
Weaker corporate earnings from major U.S. technology firms further dampened investor sentiment. Tesla reported profits below forecasts, while Netflix shares slumped following a disappointing outlook.
Gold’s ability to defend the $4,065–$4,100 range despite a stronger dollar underscores ongoing investor demand for safety amid geopolitical uncertainty.
Traders are now turning their attention to Friday’s U.S. consumer price index (CPI) data, which could offer additional clues on inflation dynamics ahead of next week’s Federal Reserve meeting.
