Live Updates > Live Update Details
2025-08-01 14:52:00
Gold Prices Under Pressure on Weekly Charts but Finding Temporary Support, Market Focus on Non-Farm Payroll Data: 1. Spot gold briefly touched the 3,300 mark on Friday but has since pared gains, fluctuating around 3,290. This week's cumulative decline remains at 1.2%, potentially marking its third consecutive weekly decline. The US dollar index briefly climbed to its highest level since May 29th, continuing to suppress the performance of dollar-denominated gold. Analysts point out that gold prices have fluctuated between $3,250 and $3,450 for nearly two months and are currently moving toward the lower end of this range, potentially facing a directional shift. 2. A mix of bullish and bearish policy factors: The Federal Reserve held interest rates steady and downplayed expectations of a September rate cut, reinforcing the dollar's strength. However, trade tensions sparked by the US imposition of tariffs ranging from 10% to 41% on various countries are providing safe-haven support for gold prices. Marex analysts suggest that if tariff negotiations falter and trade frictions escalate, this could reignite gold demand. 3. Non-Farm Payroll Data is a key short-term indicator: The market is closely watching the US non-farm payroll report, due to be released this evening, with an expected increase of 110,000 jobs in July. The data will affect the market's expectations of the Fed's policy path. If the data shows a significant cooling of the job market, it may ease the pressure of the US dollar on gold; conversely, strong data may accelerate the gold price to break through the lower end of the range.
