Gold prices held near $3325/oz despite a mild weekly loss driven by positive macroeconomic data. Inflation softened in June, pressuring prices early on. Strong Retail Sales data painted a healthy economic picture. Political pressure on the Fed added volatility to the dollar, impacting gold pricing.

The week saw gold prices react to solid US macro data, with consumer inflation slightly lower than expected. Retail Sales data for June surpassed projections. The reassuring economic outlook reduced the need for safe-haven buying and signaled less pressure on the Fed to lower rates sooner.

Tuesday’s Consumer Price Index data showed a mixed picture, with overall inflation higher than expected but price pressures cooling. Analysts suggest stress on the US economy from tariffs could impact gold prices. Despite fluctuations post-CPI, gold found support at $3325/oz and rebounded after strong Retail Sales data on Thursday.

The possibility of President Trump removing Fed Chair Jerome Powell added volatility to markets. This, along with positive economic data, influenced gold prices. With a lighter data calendar next week, this ongoing story could continue to impact gold prices. Traders are encouraged to enjoy the weekend and stay tuned for next week’s market recap.

Read more at Yahoo Finance: Gold Steady as Data Strengthens, Fed Uncertainty Lingers