2025.04.1509:34:00UTC+00Gold Prices Mixed In Lackluster Trade

Gold prices were mixed on Tuesday as investors assessed the latest developments on the tariff front and stepped-up bets for aggressive Fed rate cuts in 2025.

Spot gold slipped 0.2 percent to $3,229.50 per ounce in early European trade, while U.S. gold futures were up 0.6 percent at $3,245.65.

Improved risk sentiment in financial markets kept bullion under pressure after U.S. President Donald Trump said he was considering a modification to the 25 percent tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries.

But at the same time, there were reports that the U.S. was kicking off investigations into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs.

Meanwhile, U.S. Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation there's a dumping of Treasuries by foreign investors.

Bessent said in an interview Monday with Bloomberg Television that his department has tools to address dislocation if needed.

"We are still a global reserve currency" and there is still a "strong dollar policy," he said.

In economic releases, the latest readings on March's U.S. import and export price indexes as well as the New York Federal Reserve's Empire State Manufacturing Survey results may garner some attention later in the day.