Gold prices held around $3,330 per ounce on Monday, after three consecutive sessions of declines, as the newly announced US-EU trade deal dampened demand for safe-haven assets. The US and EU reached a broad agreement on Sunday that includes a 15% tariff on most European goods, along with hundreds of billions of dollars in investment commitments in American industry. Source: Newsmaker.id
Silver prices (XAG/USD) gained ground in Asian trading on Monday (July 28th), capitalizing on the current dollar weakness, which helped offset pressure from increased risk appetite after the US and the European Union announced their trade agreement. While the market continues to focus ahead of the US-China meeting to discuss a trade deal on Monday, attention will also be focused on several upcoming releases this week. Silver prices rose 0.34% at the time of writing, reaching $38.273/Toz. Source: Newsmaker.id
Gold stabilized at $3,337/oz following the US-EU tariff agreement, but the market remains preoccupied with discussions about the implementation and direction of US-China negotiations. Sentiment remains positive thanks to low interest rates and geopolitical tensions, although this week's NFP data and Fed comments could be game-changers. Prices held above the $3,320 support but lost momentum. A break below $3,360 could push the price to $3,400, while a break below $3,320 would signal a correction to $3,280. The gold price at the time of writing was $3,337/oz. DISCLAIMER Note: This article...