Kitco News: gold holds above $3,000 despite tariff pause

Gold remains steady above $3,000 an ounce, even as investor sentiment improves following Donald Trump's announcement of a 90-day pause in planned tariff increases, according to a report from Kitco News. The precious metal rose more than 3% on Wednesday, reaching $3,095. 

Analysts cited by Kitco believe gold will likely continue its upward trend, driven by ongoing recession fears and expectations of multiple interest rate cuts by the Federal Reserve.

While some tariffs have been suspended, the US continues to impose 10% duties on Canada, Mexico, the EU, and China. Experts warn, as reported by the website, that repairing the damage these tariffs have inflicted on global markets will take time.

According to Jeffrey Roach of LPL Financial, this postponement of duties doesn't preclude continued market volatility.