Daily Market Report
➢ Gold price retreats from a multi-week high, pressured by a stronger US Dollar, though overall
downside appears limited.
➢ Reduced expectations of an immediate Fed rate cut support the USD, acting as a headwind
for non-yielding assets like gold.
➢ Safe-haven demand remains intact due to rising global trade tensions, helping cushion gold’s
pullback.
➢ US President Trump’s fresh tariff threats on EU and Mexico (effective August 1) further
escalate trade war risks.
➢ Over 20 new tariff notices issued recently, including a 35% tariff on Canadian imports, signal
aggressive protectionist stance.
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