Gold could cool off if the tariff rates aren't too high ...0

If tariffs are lower than expected, then we could see some of the safety bid in gold come out. That said, it's still tough to evaluate what is priced in and what level of retaliation the US is prepared to accept.

I tend to think the market is priced for 9-10% tariff levels on the major trade partners of the USA. Here is a good chart of which countries to focus on.

This article was written by Adam Button at www.forexlive.com.

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