• Daily market updates

• #Commodities

Gold at $3,336 as safe-haven demand declines

Improved trade optimism caps metal's gains

Progress on Trade: The US-EU trade agreement announced a 15% tariff hike—less than previously targeted—which reassured markets and reduced demand for gold as a safe haven. Improved Risk Appetite: European stock markets rose to record highs, increasing the appeal of riskier assets at the expense of gold. Support from a Relatively Weak Dollar: A slight decline in the dollar index helped partially support gold, making the metal more attractive to foreign buyers.

 Fed Decisions Awaited:

Investors are awaiting the Federal Reserve's meeting next Wednesday, where interest rates are expected to remain in the 4.25%–4.50% range.

Future Outlook:

• Repeated progress in trade talks could push gold toward $3,320–$3,300 if risk appetite deteriorates.
• However, if weak US data or signs of a slowdown emerge, the metal could rebound toward $3,350–$3,370.

- Source: Reuters.

 To open live account click here