Gold maintains its strength after a new round of US tariffs

Gold prices held steady for a few sessions on Tuesday, as a result of a delicate balance between bulls and other pressures on the precious metal. This eased concerns after US President Donald Trump announced new tariffs on imports from Japan and South Korea, among other things, to boost demand for gold as a safe haven. Conversely, while many of the potential gains for gold are somewhat outweighed, the rest of the options remain in a stable range without significant upside. This announcement came after South Africa's trading partners notified them of the implementation of a 25% tariff on credit ratings effective August 1, marking a new phase in the trade war that began earlier this year.