Daily Market Report
➢ Gold Breaks $3,400: XAU/USD climbs above the key $3,400 level, trading near $3,422 as safe-haven
demand strengthens amid rising trade and political risks.
➢ Fed Independence in Question: Political pressure rises as Bessent and Trump criticize Fed Chair
Powell, fueling concerns over Fed independence and weakening USD sentiment.
➢ Japan Strikes Trade Deal: Trump announces a “massive deal” with Japan including a 15% tariff on
exports, with $550 billion in Japanese investment pledged and implementation set for August 1.
➢ Trade Deal Uncertainty: US-EU trade talks show little progress ahead of the August 1 deadline, with
Trump threatening sweeping 30% tariffs, supporting Gold’s appeal.
➢ EU Readies Retaliation: The EU prepares countermeasures targeting key US exports like digital
services, aerospace goods, and bourbon, adding to global trade uncertainty.
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