Daily Market Report
➢ Gold dips in Wednesday’s Asian session, pulling back from $3,395 due to profit-taking and a
stronger USD.
➢ Fed independence concerns may support gold, as Trump pushes to replace a Fed governor.
➢ Trump aims to control Fed board, seeking rate cuts; legal fight with Lisa Cook intensifies.
➢ Gold remains a safe haven, sensitive to political and geopolitical uncertainty.
➢ Traders await US July PCE data on Friday, with inflation expected at 2.6% (headline) and
2.9% (core) YoY.
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