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GOLD RETREATS AS US-EU TRADE PROGRESS LIFTS MARKET SENTIMENT

Published on Jul 24, 2025 14:38

Gold prices tumbled toward $3370 per ounce in Asia on Thursday, pressured by improved risk appetite as hopes of fresh trade deals between the US and major partners reduced safe-haven demand. COMEX bullion futures fell over 0.6%, while MCX August gold futures slipped 0.7% to ₹98718 per 10 grams. A softer US dollar, with the dollar index falling below 97 to a three-week low, offered partial support to the metal. Investors are now eyeing next week�s Federal Reserve meeting, where rates are expected to remain unchanged amid inflation concerns. Meanwhile, the European Union is nearing a trade pact with Washington that would introduce a 15% tariff on EU goods, averting a harsher 30% levy planned for August 1.

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