Gold rose to around $3,320 per ounce on Thursday, extending gains from the previous session, supported by a weaker dollar as investors continued to monitor trade developments and digested the latest FOMC minutes.
Markets remain focused on a wave of tariff demand letters from President Trump, with Brazil the latest to face steep duties following earlier threats on copper imports and other countries—fueling concerns over broader trade disruptions.
Meanwhile, minutes from the Fed's June meeting showed officials were divided on the timing and extent of potential interest rate cuts. While most anticipated some easing later this year, views ranged from backing a reduction as early as July to favoring no cuts at all by year-end.
The Fed maintained a cautious, data-driven stance amid mixed economic signals, including tariff-related inflation risks, slowing consumer spending, and a still-strong labor market.
Source: Trading Economics
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