Gold prices rose Wednesday, rebounding after the previous session’s weakness, as investors assessed the impact of newly imposed U.S. tariffs, and awaited U.S.-Iran talks later this week.
The tariff action followed a U.S. Supreme Court ruling last week that struck down earlier sweeping duties imposed under emergency powers, prompting Washington to reintroduce tariffs under alternative legal authority.
 
Geopolitical tensions also remained in focus, with the U.S. and Iran due to hold a third round of talks on Thursday in Geneva over Tehran’s nuclear programme. A slightly weaker U.S. dollar also provided support, making dollar-priced metals less expensive for overseas buyers.
 
However, gains in gold were capped by expectations that U.S. interest rates will remain elevated. Two Federal Reserve officials on Tuesday signalled little appetite to change the central bank’s policy stance in the near term, reinforcing a higher-for-longer rate outlook that typically weighs on non-yielding assets such as gold.