Daily Market Report
➢ Gold holds above $3,200 after Monday’s 3% slump, as traders await the US Consumer
Price Index (CPI) data for fresh direction.
➢ US Dollar pulls back in Asian trading, giving gold a temporary boost, following a strong
rally on news of a US-China trade truce.
➢ US-China trade talks yield positive results, with the US reducing import levies from
145% to 30% and China cutting duties from 125% to 10% during a 90-day negotiation
period.
➢ Risk appetite improves, easing US recession fears and dampening expectations for
aggressive Fed rate cuts, which pressured gold prices.
➢ Geopolitical tensions ease with a ceasefire between India and Pakistan and optimism
over upcoming Russia-Ukraine peace talks, further weighing on gold’s safe-haven appeal.
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