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Gold Slips to $3,343 as Dollar Strength and Trade Hopes Rise

Perth Mint Gold Scandal: Mint Regains Global Confidence
Perth Mint Gold Scandal: Mint Regains Global Confidence

On Friday, spot gold fell to $3,343.00 per ounce (–0.7%) and U.S. futures slid to $3,344.50 (–0.9%) as the U.S. dollar index rebounded from a two-week low and benchmark 10-year Treasury yields ticked higher.

Traders cheered news that the U.S. and EU are close to a negotiated tariff solution, and U.S. jobless claims dropped to a three-month low—signs that the Fed may hold rates steady rather than cut soon. While President Trump publicly urged Fed Chair Powell to lower rates, markets now price in only a September easing.

Analysts say central-bank gold buying could underpin prices, but a fresh wave of ETF inflows and deeper Fed cuts would be needed to push gold back toward year-end targets around $3,675/oz.

Eight more from the desk

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