Overview

• Gold held near $3,430 per ounce after President Trump agreed to impose 15% tariffs on Japanese imports instead of the initially threatened 25%, ending a three-day advance.
• MCX spot gold in India topped ₹100,000 per 10 grams for the first time on July 23, settling at ₹100,130 as international prices climbed.
• Silver climbed to $39.41 per ounce, its highest level since 2011, driven by both safe-haven purchases and industrial demand.
• Investors are closely watching Treasury Secretary Scott Bessent’s upcoming Stockholm discussions on extending the US-China tariff truce, with an August 1 deadline for other trade partners.
• Traders are monitoring Federal Reserve officials during the blackout period before the July 29–30 policy meeting for clues on future interest-rate moves.