Gold prices rise 1.07% due to safe-haven demand amid weakened US dollar

From Investing.com: 2025-07-02 03:19:00

Gold prices rose by 1.07% as demand for safe-haven assets persisted. Concerns about US fiscal sustainability and trade uncertainties supported gold prices, despite some profit-taking after Israel agreed to a ceasefire in Gaza. Market focus remains on the Federal Reserve’s monetary policy trajectory, with expectations of rate cuts by September. The euro strengthened against the US dollar following dovish signals from the Fed, with Trump’s criticism of Powell adding to US dollar pressure. The Australian dollar rose to 0.65900 amid weaker-than-expected domestic data, supported by a weakening US dollar near multi-year lows. Market awaits US ADP Employment report for further direction.



Read more at Investing.com: Gold Prices Rise as US Dollar Weakens Amid Fed Rate Cut Expectations