Gold prices rose by over 0.35% as trade tensions and tariff-related inflation risks support the precious metal. The Federal Reserve’s minutes revealed disagreements among officials on potential interest rate cuts, citing concerns about slowing consumer spending and a strong labour market. Gold reached around $1,320 amid ongoing trade uncertainty and a weaker US dollar.

The euro climbed to around 1.17500 against the USD as investors moved into riskier assets amidst easing trade tensions and robust corporate earnings. The Fed’s June meeting minutes signalled openness to rate cuts later this year, reflecting market expectations of policy easing. EUR/USD continued to rise amid focus on potential trade negotiations and upcoming US data releases.

The yen strengthened as US–Japan trade talks stalled over disagreements on Japan’s domestic rice market protection. President Trump imposed a 25% tariff on Japanese goods, leading to projections of economic impact on Japan’s GDP growth. The yen rose to around 146.000 as the USD weakened, reflecting a shift in investor sentiment towards the yen amid global uncertainty.

Read more at Investing.com: Gold Prices Rise on Trump’s Tariff Threats and Fed Policy Uncertainty