Daily Market Report
➢ Gold price rebounds slightly during the Asian session on Wednesday after a two-day decline,
supported by safe-haven demand amid trade-related uncertainties and a softer risk tone.
➢ US trade tensions escalate, with President Trump announcing plans for a 200% tariff on
pharmaceutical imports and previous measures on copper and multiple countries, fueling
investor caution.
➢ Weaker risk appetite is evident in equity markets, helping gold attract dip-buyers despite
lingering concerns over interest rate policy.
➢ US Dollar pulls back from a multi-week high reached on Tuesday, offering mild support to
gold; however, rate-cut delay expectations still buoy the USD and cap gold’s upside.
➢ Stronger-than-expected US CPI data for June showed a 0.3% monthly increase and 2.7%
annual rise, reinforcing the view that the Fed will maintain higher interest rates longer.
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