Gold prices eased on Friday, dipping below $2,650 per ounce and trimming the week’s gains as market risk appetite improved. XAU/USD fell by approximately two-thirds of a percent amid recovering sentiment following upbeat U.S. ISM manufacturing data. Federal Reserve Bank of Richmond President Tom Barkin addressed concerns about potential economic disruptions from President Donald Trump’s proposed tariffs, noting that the pass-through effect of tariffs on prices is complex and depends on factors like supply chains and consumer behavior. Barkin also highlighted the Fed’s progress in reducing rates to a 4.25%-4.5% range and emphasized low unemployment and easing inflation trends. Looking ahead, U.S. markets will pause next Thursday to honor former President Jimmy Carter, with the first Nonfarm Payrolls report of 2025 set to follow on Friday.


