Gold Commentary: 30th June 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Gold Commentary: 30th June 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Gold prices fell to their lowest in 6 weeks as easing trade tensions between US and China dampened safe-haven demand and prompted investors to pivot toward riskier assets. Iran- Israel ceasefire after 12-day conflict seems to be holding. US and China have resolved issues surrounding shipments of rare earth minerals and magnets to the US, Treasury Secretary Scott Bessent said, adding the Trump administration's various trade deals with other countries could be done by the Sept. 1 Labor Day holiday. Meanwhile, U.S. President Trump abruptly cut off trade talks with Canada over its tax targeting U.S. technology firms, saying that it was a "blatant attack" and that he would set a new tariff rate on Canadian goods within the next week. President Trump one again taking a dig at Governor Powell said that he would not appoint anyone to head the U.S. Federal Reserve who would not lower interest rates. Meanwhile, Senate Republicans pushed forward President Trump's sweeping tax cut and spending bill over the weekend in a marathon weekend session. Focus this week will be on Governor Powell speech, PMI number from major economies, labour market data. This is also a holiday shortened week as US markets remains shut on 4th of July.
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