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2025-07-29 09:04:42
Gold prices are under downward pressure, impacted by easing trade tensions and a stronger dollar. 1. Gold prices continued their decline in early Asian trading on Tuesday, currently trading around the 3,310 level, down approximately 0.12%. This decline was primarily driven by easing global trade tensions and a stronger US dollar index. Market participants are also focused on the Federal Reserve's upcoming monetary policy meeting for clues on future interest rate trends. Overnight, gold prices hit their lowest level since July 9th at $3,301.75 per ounce. 2. Recent positive signs in international trade relations have eased market concerns about a global tariff war. Senior US and Chinese economic officials held lengthy talks in Stockholm on Monday, focusing on resolving the core issues of their long-standing trade dispute and pushing for an extension of the tariff truce. Furthermore, the US and the EU reached a framework agreement on Sunday, setting import tariffs on EU goods at 15%, significantly lower than previously threatened, averting further escalation in the transatlantic trade conflict. These developments have weakened gold's appeal as a safe-haven asset. 3. The US dollar index rose 1% overnight and remained near a one-week high, increasing the cost of gold purchases in non-US currencies, further suppressing gold prices. Meanwhile, investors are closely watching the Federal Reserve's upcoming policy meeting. Although the market generally expects interest rates to remain unchanged at this meeting, according to data from the CME FedWatch tool, traders are still betting on a 62% probability of a rate cut in September. The uncertainty of the future monetary policy path may bring new volatility to the gold market.
