Particle.news

Download on the App Store

Gold Falls Below $3,340 as Strong Dollar and Tariff Extension Shake Markets

Investors brace for the release of Fed meeting minutes following Donald Trump’s extension of the tariff reprieve to August 1

Image
Gold prices in international market declined after after Donald Trump signalled progress on multiple trade agreements.
Price of the precious yellow metal has come down today after a slight hike in the last close.
Image

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.