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2025-08-01 18:09:49
[Gold's three consecutive declines: a life-or-death struggle amid dashed hopes for rate cuts?] ⑴ Gold prices remained stable on Friday, but are still on track for their third consecutive weekly decline. ⑵ As of 5:34 PM Beijing time, the spot gold price was $3,293.56 per ounce, down 1.4% for the week. ⑶ This trend was primarily driven by a stronger dollar and weakening market expectations for rate cuts. ⑷ The Federal Reserve previously maintained interest rates in the 4.25%-4.50% range, dampening market hopes for a September rate cut. ⑸ Meanwhile, the US dollar index rose to its highest level since May 29, making gold more expensive for holders of other currencies. ⑹ Nevertheless, the uncertainty surrounding Trump's tariff rhetoric and its potential impact on global economic growth provided support for gold. ⑺ Next, market focus will shift to the upcoming US jobs data, which investors will use to assess the Federal Reserve's future policy direction. ⑻ Notably, precious metals such as silver, platinum, and palladium also faced weekly declines this week.
