Gold (XAU/USD) traded higher on Friday (04/07) as news of US President Donald Trump's "Big, Beautiful" bill made its way into the market. With markets closed in the US for Independence Day, XAU/USD was trading above $3,330 at the time of writing.
Liquidity is expected to remain light in the US following the holiday weekend, which could make bullion sensitive to developments that could affect risk sentiment.
Risk appetite improved this week, following reports that the US was making progress in trade talks ahead of a July 9 deadline. However, the mood changed slightly on Friday due to tariff uncertainty and President Trump's threat to send letters to countries stating how much they will pay to do business with the US.
On Friday, Trump stated that "We're probably going to send some letters, starting maybe tomorrow, maybe 10 a day to various countries saying how much they will pay to do business with the US," according to Reuters
"The tariffs will be anywhere from 60% or 70% to 10% and 20%," was the range Trump gave to Bloomberg reporters.
Looking ahead, market focus will shift to ongoing trade negotiations, which could introduce fresh volatility. If trade talks deteriorate or geopolitical tensions escalate, investors may turn to safe-haven assets such as Gold.
In addition, the proposed "Big, Beautiful" bill was passed by the House of Representatives on Thursday night after the release of key economic data from the US. (alg)
Source: FXstreet
Expectations that the Federal Reserve (The Fed) will cut interest rates have increased the appeal of gold, as yields on fixed-income assets (such as bonds) have become lower. The US dollar has weaken...
Gold rose on Friday (November 7) as expectations of further interest rate cuts from the Federal Reserve and lingering concerns over the US economic outlook amid the prolonged government shutdown boost...
Gold strengthened in the Asian session as signs of a fragile US economy emerged. US companies reported plans to cut more than 150,000 jobs last month—nearly triple the number in September—according to...
Gold (XAU/USD) edges lower on Thursday, after briefly reclaiming the key $4,000 psychological mark amid a weaker US Dollar (USD). At the time of writing, XAU/USD is trading around $3,985, easing from ...
Gold rose above the key $4,000 per oz level on Thursday (November 6th) as a weaker dollar and a prolonged US government shutdown raised concerns about the economic outlook. Spot gold prices rose 0.7%...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The Institute for Supply Management (ISM) is scheduled to release its October Services Purchasing Managers' Index (PMI) on Wednesday. The report, a...
The ISM Services PMI rose to 52.4 in October 2025 from 50 in September, beating forecasts of 50.8, pointing to the strongest expansion in the...
European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations.
The...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated...