Daily Market Report
➢ Gold drifts lower on Friday due to profit-taking after hitting a 2-week high near $3,410.
➢ A positive risk tone in equity markets and a modest US Dollar rebound apply downward
pressure on gold.
➢ Trump’s new tariffs on Indian imports and pending levies on semiconductors/pharma revive
trade war fears, supporting safe-haven demand.
➢ China’s central bank continued gold purchases for a ninth straight month in July, boosting
long-term sentiment.
➢ US Jobless Claims rose to 226K, highest since early July, signaling labor market weakness.
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