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Gold is trading lower for the second consecutive session in mid-European trading today, Thursday, July 24, as risk appetite in the markets increases and demand for safe havens declines following the Washington-Tokyo agreement. Some optimism surrounding a deal with the European Union before the August 1 deadline has supported the US dollar’s gains. The yellow metal is trading down about 0.62% at $3,366 per ounce, while silver is trading down 0.56% at $39.06 per ounce. US President Donald Trump announced on his Truth Social account that an agreement had been reached with Japan, noting that the agreement includes a 15% tariff on Japanese imports, including automobiles, and that Japan will invest $550 billion in the United States. A deal with the Philippines was also finalized with a 19% tariff, and an agreement with Indonesia is almost certain to also implement a 19% tariff. This helped allay market concerns before the August 1 deadline.
\nSome sources indicated that the United States and the European Union are moving toward a trade agreement that may include a 15% tariff on EU goods.
\nIn a related development, a report issued by the China Gold Association showed that gold consumption in China declined by 3.55% in the first half of this year, reaching 505.2 tons, with gold bars and coins accounting for more than half of consumption. The US Dollar Index rose 0.20% to trade at 97.15, following four consecutive days of declines, amid anticipation of US President Trump’s visit to the Federal Reserve today, following weeks of criticism from Trump and calls for faster interest rate cuts.
\nPlatinum, meanwhile, is trading at $1,389, down about 1.57%, while palladium is down about 1.68% to trade at $1,256.<\/p>\n
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Gold is trading lower for the second consecutive session in mid-European trading today, Thursday, July 24, as risk appetite in the markets increases and demand for safe havens declines following the Washington-Tokyo agreement. Some optimism surrounding a deal with the European Union before the August 1 deadline has supported the US dollar’s gains. The yellow […]<\/p>\n","protected":false},"author":1,"featured_media":7351,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-8071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-jet-metals-markets"],"acf":[],"yoast_head":"\n