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Previous Metals Preview: Gold rallies to one week high following mixed monetary outlook from Jerome Powell
02-Jul-2025 08:24

COMEX Gold futures rose impressively in last session despite a mixed assessment of the US monetary policy outlook. Markets eyed comments from Federal Reserve Chair Jerome Powell to gauge the timing of any interest rate cuts. Powell, speaking at a central banking conference in Sintra, Portugal, said he could not say if July was too early for a rate cut and noted that it is going to depend on the data. Gold still spiked amid sustained weakness in the US dollar and jumped to one week high of $3350 per ounce, adding around 1.30% on the day. It currently hovers around the same mark

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