Overview
- Spot gold dropped about 0.9% to trade near US$3,330 per ounce after the dollar’s mild rally weighed on bullion demand.
- President Trump postponed the end of his 90-day tariff suspension to August 1 and is sending formal notices to 14 countries about fresh 25% duties.
- Market participants are awaiting the US Federal Reserve’s June FOMC minutes for clues on the future path of interest-rate cuts.
- China’s People’s Bank increased its gold reserves by 70,000 ounces in June, marking its eighth straight month of net purchases.
- In India, MCX August gold futures hovered around ₹96,500–97,200 per 10 grams, with domestic prices sensitive to rupee moves and import duty risks.