Gold prices experienced a decline driven by signs of de-escalation in the Ukraine conflict, which lowered safe-haven demand. President Trump's scheduled meeting with Putin is aimed at negotiating peace, potentially averting further sanctions on Russia and influencing gold prices. Ongoing trade uncertainty surrounds tariff hikes and US-China dialogue leading to an August deadline. The physical gold market is facing scrutiny due to possible import duties on bullion. Attention shifts towards key US economic indicators this week, with a high probability of forthcoming Federal Reserve rate cuts.
Gold prices fell as signs of de-escalation in the Ukraine conflict diminished safe-haven demand. Trump's upcoming meeting with Putin may further ease tensions.
Tariff hikes and US-China trade talks loom ahead of an August 12 deadline, impacting gold prices. The physical gold market faces potential disruption due to import duties.
Market focus shifts to US economic data this week, with strong CPI potentially strengthening the dollar and pressuring gold. A 90% probability of Fed rate cuts exists.
Three potential rate cuts by the Federal Reserve are anticipated by year-end, contributing to complex dynamics influencing gold price movements.
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