Investors are focused on upcoming statements from Federal Reserve officials, which may influence gold prices. Recent US economic data shows strength, but dovish remarks might boost gold's demand. The European Central Bank plans to hold interest rates steady; this pause could affect non-yielding assets like gold negatively. Increasing trade tensions and the approaching August 1 tariff deadline could enhance interest in safe-haven assets. Recently, global gold ETFs saw significant inflows, reflecting ongoing geopolitical uncertainties, including tensions in Ukraine and the Middle East.
The recent US economic data has shown resilience, but dovish comments from Fed officials could enhance the appeal of gold as a safe haven investment.
The European Central Bank is anticipated to maintain steady interest rates this week, marking a pause after several cuts, which may negatively impact the attractiveness of non-yielding assets.
In light of trade tensions and the impending August 1 tariff deadline, there may be an increase in demand for safe-haven assets such as gold.
There has been a noticeable inflow into global gold ETFs, with a total of 6.6 tonnes registered in the week ending July 18, up from 1.4 tonnes the prior week.
Geopolitical tensions are rising as Russia continues missile attacks in Ukraine and Israeli military operations expand in Gaza, creating a backdrop for potential market instability.
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