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Precious Metals Preview: Gold stays supported on safe haven demand amid tariff uncertainty
21-Jul-2025 09:00

COMEX gold futures are steadying around $3360 mark with upside limited by up move in dollar as solid economic data from the United States last week supported the Federal Reserve's (Fed) stance to hold rates unchanged. However, upside safe haven demand for the yellow metal is sustained amid uncertainty about trade talks as a tariff deadline with the US looms. US Commerce Secretary Howard Lutnick said on Sunday that August 1 is the deadline for countries to begin paying tariffs to the US. President Donald Trump's tariff deadline has shifted since he announced his steep levies on trading partners on April 2, but White House officials now maintain that August 1 is a firm deadline. More cues from the speech from Federal Reserve (Fed) Chair Jerome Powell later on Tuesday will be eyed.

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