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Commodity News Details
Gold drifts lower as trade tensions flare, fed outlook in focus
08-Jul-2025 15:02
Gold prices eased in early Asian trades on Tuesday, with futures hovering near $3330 per ounce, as investors assessed the impact of renewed US trade tensions and a stronger economic backdrop. President Trump's decision to impose 25% tariffs on 14 countries, including major exporters like Japan and South Korea, weighed on sentiment. Meanwhile, last week's solid US jobs report tempered expectations of a near-term Fed rate cut, reducing gold's appeal. Traders now await Wednesday's release of the June FOMC minutes for further direction on interest rates. On the domestic front, MCX August gold futures slipped 0.32% to ₹96963 per 10 grams.

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