Gold prices rose by 0.69% as concerns over the Fed Chair’s position eased, with Trump denying reports of his dismissal. U.S. Producer Price Index remained flat in June, contrasting with rising Consumer Price Index, raising concerns about inflation. EU trade talks in Washington aimed to address trade imbalances, while U.S.–China tensions eased after lifting a ban on AI chip sales. XAU/USD fell slightly, with focus on the U.S. Retail Sales report for market volatility.

The euro rose amid concerns over Fed independence, supported by stable U.S. producer prices in June. Markets await the U.S. Retail Sales report for consumer spending insights. Trump hinted at a potential trade deal with India, impacting currency and commodity markets.

Japanese Yen weakened as trade balance data raised recession fears, with exports falling and imports rising unexpectedly in June. Investors await potential fiscal measures ahead of Japan’s Upper House election to stimulate economic growth and address recession risks.

Read more at Investing.com: Gold Prices Rise as Trump-Powell Tensions Ease