This data suggested the Federal Reserve might ease monetary policy, prompting a rally in gold. The soft June consumer price index and the broader trend of disinflation have led market participants to fully anticipate a U.S. interest rate cut in September, which could help strengthen gold.
Continued weakness in U.S. retail sales could drive further demand for gold as a safe-haven asset in the short term. U.S. political uncertainty and economic concerns in China may further support a positive near-term outlook for gold.
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