Daily Market Report
➢ US–EU Trade Deal Finalized: The United States and European Union have reached a landmark trade agreement
with a 15% tariff on EU goods entering the U.S., effective August 1, easing fears of a full-blown trade war.
➢ Massive EU Commitments: The EU agreed to purchase $750 billion worth of U.S. energy and invest $600
billion in the American economy, including major commitments in defence and infrastructure.
➢ Gold Faces Pressure from Trade Optimism: Optimism over the US–EU deal and signs of a prolonged U.S.–
China tariff truce is dampening gold’s appeal as a safe haven. Prices have slipped to around $3,335.
➢ Gold Traders Eye Fed Cues: With the Federal Reserve expected to hold interest rates steady on Wednesday,
traders are closely watching for dovish signals that could reignite demand for gold. A surprise shift in tone could
reverse recent losses in the yellow metal.
➢ Gold Technicals Reflect Market Uncertainty: Gold’s technical indicators remain neutral, with momentum
slipping slightly and MACD flashing a sell signal, suggesting cautious sentiment ahead of major Fed event.
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