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Analysis: Tariff deadline looms, market uncertainty pushes gold prices above $3,400
Odaily News Gold prices rose more than 1% on Monday, standing above the $3,400 an ounce mark. As the dollar and U.S. Treasury yields weakened amid uncertainty in trade negotiations, the United States stipulated that countries must reach an agreement before the August 1 deadline, otherwise they will face more tariffs. As the August 1 deadline approaches, this brings a degree of uncertainty to the market, which is certainly beneficial, said David Meger, director of metals trading at High Ridge Futures. Meger said that rumors of an earlier-than-expected U.S. interest rate cut are heating up, and speculation about the possible replacement of Federal Reserve Chairman Powell and the reorganization of the Federal Reserve have exacerbated market uneasiness. (Jinshi)
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