Gold Down Slightly, But World Still Nervous, What to Wait for?
Gold prices fell after previously recording a gain of almost 2% last week. The decline occurred as investors held back while waiting for clarity from the United States trade talks ahead of the July 9 tariff deadline set by President Donald Trump.
Bullion was trading near $3,325 an ounce on Monday morning Singapore time. U.S. Treasury Secretary Scott Bessent said that countries that have not reached a deal by the July 9 deadline may still be given three more weeks. Meanwhile, Commerce Secretary Howard Lutnick said tariffs per country will go into effect on August 1.
Uncertainty about the outcome of trade negotiations has made gold a safe haven asset again. Since the beginning of the year, gold has gained more than a quarter of its value, although it is still about $170 below its record high in April. Investors tend to look to gold when geopolitical and economic tensions increase.
Although gold fell 0.4% today, demand from central banks and investment funds remains strong. In addition to gold, other precious metals such as silver, palladium, and platinum are reported to have experienced relatively stable price movements. On the other hand, the US dollar also weakened, adding new dynamics to the precious metals market.
Source: (ayu-newsmaker)
