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Below the Quote on Gold Commentary: 10 July 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd

Gold prices edged higher, helped by a slight retreat in the dollar and bond yields, while investors kept a close tab on trade negotiations as U.S. President Donald Trump broadened his tariff war. Trump launched his global tariff assault into overdrive after the 90-day time line was over, announcing a new 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1. Trump also issued tariff notices for seven minor trading partners, adding to 14 others issued earlier in the week, including South Korea and Japan, with 25% levies set to take effect on August 1 unless agreements are reached. Meanwhile, Trump said trade talks have been going well with China and the European Union, which is the biggest bilateral trading partner of the U.S. Dollar index continue to hover around two-week low while US Yields retreated from three week lows. Minutes of the Federal Reserve's June 17-18 meeting showed that only "a couple" of Fed officials believed interest rate cuts could happen as early as this month, with most favoring reductions later this year due to inflation concerns tied to Trump's tariff policies. Focus today will be on US weekly jobless claims.

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