Stock Market Update
03-Jun-25 14:00 ET
Gold slips 0.6% as dollar rebounds, but trade tensions keep safe-haven demand intact
Dow +214.19
at 42519.67,
Nasdaq +186.51
at 19429.11,
S&P +36.56
at 5972.50
[BRIEFING.COM] With about two hours to go on Tuesday the tech-heavy Nasdaq Composite (+0.97%) is atop the major averages, up more than 185 points.
Gold futures settled $20.10 lower (-0.6%) at $3.377.10/oz, owing in part to a modest rebound in the U.S. dollar, which exerted downward pressure on gold prices due to their inverse relationship. Despite this dip, ongoing uncertainties surrounding global trade, particularly U.S.-China relations, continued to support gold's appeal as a safe-haven asset. Investors remained cautious amid expectations of discussions between U.S. President Trump and China's President Xi, following renewed trade tensions and the announcement of increased U.S. tariffs on steel and aluminum imports.
Meanwhile, the U.S. Dollar Index is up about +0.5% to $99.19.
