Live Updates > Live Update Details
2025-07-30 23:57:37
[Strong economic data puts pressure on gold prices, spot gold falls over 1%] On July 30, the US announced that its second-quarter GDP growth rate reached 3%, significantly higher than the expected 2.4%; ADP data showed that private sector employment in July also exceeded expectations, although signs of a slowdown in the labor market persisted. The solid data reinforced market expectations that the Federal Reserve will maintain interest rates unchanged and postpone rate cuts, pushing spot gold down over 1% to $3,289 per ounce, and US gold futures also fell 1%. Traders' expectations for a September rate cut fell from 66% to 60%. The market is watching Powell's speech at 2:30 pm Eastern Time for more clues on the path of monetary policy. Platinum fell over 3.6%, and silver and palladium also fell sharply. (Refinitiv)
