Gold prices dipped slightly after a three-day rally as Trump announced a highly-anticipated trade deal with Japan. This signals progress in tense talks before new August 1 tariffs take effect, Bloomberg reports.
Gold prices dipped slightly after a three-day rally as Trump announced a highly-anticipated trade deal with Japan. This signals progress in tense talks before new August 1 tariffs take effect, Bloomberg reports.
According to Reuters, gold demand in India remained subdued this week as prices hovered near record highs. Sellers are now offering discounts of up to $10 per ounce over official domestic costs (including taxes).
Ray Jia, analyst at the World Gold Council (WGC), notes that the Chinese gold market set new records in the first half of the year. Shanghai gold prices and inflows into precious metal-backed ETFs reached their highest levels, indicating market stability.
According to Kavita Chacko of the World Gold Council (WGC), India's gold market maintained steady investment demand in June despite weaker jewelry sales and lower imports. Gold prices rose 0.3% in June and gained another 2% in July, supported by geopolitical tensions and a weaker dollar.
According to Swissquote Bank analyst Ipek Ozkardeskaya, undermining the independence of the US central bank will lead to extremely negative consequences. In these circumstances, she advised investors to look at safe haven assets, especially gold.
Analysts at Canada's BCA Research predict gold prices will keep climbing as industrial metals lose appeal. Weak economic activity in China and higher US import tariffs are reducing demand for copper, iron ore and even oil.
According to the estimates of the World Gold Council (WGC), by the end of the year, prices for the main precious metal may rise to $4,000 per ounce.
India's gold imports plunged 40% year-on-year in June to just 21 tons, their lowest level since April 2023, as domestic prices soared to unprecedented levels. Government and industry sources attributed the sharp decline to waning consumer demand amid record costs.
According to Citigroup Inc., silver prices will climb up in the coming months, surpassing $40 per ounce, driven by a tightening global supply and robust investment demand.
Gold is one of the top investment choices following the Trump administration's new tariffs against the EU and other major trade partners. Analysts from Morgan Stanley, Goldman Sachs, and UBS shared this opinion.
Gold rose to $3,330 an ounce after closing 0.6% lower on Tuesday. Traders are worried about worsening trade tensions following new statements from US President Donald Trump about import tariffs. This has supported the metal’s prices, Bloomberg notes.
Gold is not just glitter and beauty, but also a key asset in the financial sector.
Gold appears to be something more than just a metal. It is an indicator of economic stability and a tool for managing finances.
Staying up-to-date with the latest gold news is a key to successful management of your funds.