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2025-07-29 15:06:13
Gold Remains Weak and Volatile, as a Stronger US Dollar and Cooling Safe-Haven Demand Pressure Gold Prices. 1. International gold prices continued their weak consolidation pattern on Tuesday, hovering near a three-week low. With easing global tariff tensions and a strong US dollar index, gold's safe-haven appeal continues to be dampened. Spot gold is currently trading around $3,317.14 per ounce, having hit its lowest level since July 9th at $3,301.75 per ounce in the previous trading day. 2. Tim Waterer, Chief Market Analyst at KCM Trade, noted: "Gold prices continue to see buying support around $3,300. While short-term pressure is being exerted by improving trade relations and a stronger US dollar, gold still has upside potential in the medium to long term." 3. Regarding the market backdrop, senior economic officials from the United States and China held talks in Stockholm on Monday for over five hours to resolve the core issues of the bilateral trade dispute and seek a three-month extension of the tariff truce. Meanwhile, the US and Europe reached a framework trade agreement on Sunday, with the US imposing a 15% import tariff on EU goods, only half of the previously threatened rate, effectively avoiding an escalation of the transatlantic trade war. 4. The US dollar index continued to rise on Tuesday, hitting a new high of 99.01 since June 24, further increasing the cost of gold purchases for holders of non-US currencies.
