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7 July | Gold

Gold prices fall amid progress in US negotiations with trade partners

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Gold
Gold prices fall amid progress in US negotiations with trade partners

Gold prices declined today following recent remarks by US President Donald Trump. In his statement, the politician reported progress in negotiations and an extension of tariff delays for several countries. This information was provided by the Reuters news agency.

Gold prices fell by 0.6%, reaching $3,305 per ounce. Currently, the US government is close to finalizing several agreements and is prepared to notify other countries about increased trade duties. Decisions on these matters will be announced on July 9, with higher tariffs set to take effect starting August 1.

According to OANDA analyst Kelvin Wong, short-term tariff delays by the US are currently a key driver of intraday declines in gold prices.

Elizaveta Kuzmicheva MarketCheese

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