Stock Market Update
08-Jul-25 14:00 ET
Gold slips 0.8% as Trump tariff shock spurs safe-haven demand, but strong yields cap upside
Dow -122.35
at 44284.01,
Nasdaq +35.29
at 20447.81,
S&P +2.91
at 6232.89
[BRIEFING.COM] The Nasdaq Composite (+0.17%) is modestly higher on Tuesday afternoon, up about 35 points.
Gold futures settled $25.90 lower (-0.8%) at $3,316.90/oz, as traders cautiously pared positions amid volatility in real yields and a strong dollar. The driver behind Tuesday's move was heightened safe-haven demand linked to President Trump's announcement of 25% tariffs on imports from 14 countries, effective August 1, which stoked geopolitical uncertainty. However, gains were constrained by firm Treasury yields and a robust U.S. dollar, underscoring the delicate balance between risk-off sentiment and rising opportunity costs in holding bullion.
Meanwhile, the U.S. Dollar Index is down less than -0.1% to $97.52.
