Daily Market Report
➢ Gold price (XAU/USD) drops to a multi-day low near $3,300 on Monday, pressured by
modest US Dollar strength during the Asian session.
➢ US fiscal concerns remain elevated, as President Trump’s new $3.4 trillion spending bill fuels
fears about long-term debt, which could cap further USD gains.
➢ Federal Reserve rate cut bets increase, with markets pricing in a 70% chance of a September
cut and expectations of two 25bps cuts by year-end, limiting gold’s downside.
➢ Geopolitical tensions rise, with fresh Israeli strikes on Yemen and continued Houthi threats
boosting safe-haven demand for gold.
➢ Trade uncertainty resurfaces, as Trump announces a July 7 deadline for new global tariff
letters and warns of 10% penalties for BRICS-aligned countries.
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