Daily Market Report
➢ Gold slips to $3,285 amid fading bets for a Fed rate cut in July, pressured by rising US
Treasury yields and a firm US Dollar.
➢ Trump’s aggressive tariff announcements (up to 200% on drugs, 50% on copper) fuel
inflation fears, reinforcing expectations that the Fed will maintain higher rates for longer.
➢ Despite risk-off sentiment, Gold fails to attract safe-haven flows, as strong US data and higher
yields support the USD.
➢ The 100-period SMA rejection on the 4H chart and a sustained break below $3,300 are seen
as bearish technical triggers, exposing $3,270 and $3,248 levels.
➢ A recovery above $3,310–$3,326 may face selling pressure near the $3,340 100-SMA, with
stronger resistance at $3,360–$3,400.
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