Gold News

No change of the indicator value may reduce the volatility of the related markets.

No change of the indicator value may reduce the volatility of the related markets.

An increase of the indicator value may contribute to the rise in quotes of Gold.

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 Rhona O'Connell, lead Analyst at StoneX, one should not discard gold for the time being. She emphasizes the persistence of uncertainty in global markets. This, in her opinion, will contribute to the strengthening of interest in gold.

Gold is currently trading near $3,400 per ounce, sparking investor speculation about whether the metal could hit the key $3,500 level before July ends. Ben Nadelstein from Monetary Metals says gold’s hike to $3,500 is unlikely to happen unless the Federal Reserve changes its policies.

Gold prices didn’t react strongly to Trump’s push for new import duties. In the current climate, the metal is attracting less safe-haven demand. But a weaker dollar should keep supporting gold. Concerns over rising US debt continue to draw investors to bullion, Standard Chartered reports.

On Monday morning, precious metal prices challenged key resistance levels. Meanwhile, Heraeus analysts believe gold may have already run out of steam due to weakening investment demand for physical bullion.

Russia’s precious metals exports to China nearly doubled in the first half of the year, as record-high gold prices boosted revenues for Russian suppliers. China’s imports of precious metals and concentrates from Russia, including gold and silver, surged 80% year-on-year to $1 billion.

According to Reuters, investors will be monitoring the progress of US trade negotiations with China on Monday and awaiting the Federal Reserve (Fed) meeting scheduled for next week. In this regard, gold prices are holding within a narrow range.