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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
economy-ss-8
Inflation Update: Weak demand softens shocks
July 4, 2025 DOWNLOAD
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
View all Reports
Markets 2 MIN READ

Gold poised for weekly gain on dollar weakness, safe-haven demand

July 7, 2025By Reuters
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Gold prices rebounded on Friday and were heading for a weekly gain, helped by a retreat in the US dollar and safe-haven inflows, as US President Donald Trump’s deadline for trade deals loomed.

Spot gold was up 0.3% to USD 3,336.39 per ounce, as of 1211 GMT. The precious metal is up about 1.9% this week.

US gold futures gained 0.1% to USD 3,346.60.

The dollar index slipped 0.2% and was on track for a second week of decline, making gold less expensive for other currency holders.

“The apprehension about the fiscal situation in the US (after Trump’s sweeping tax-cut bill passed Congress) and the lingering uncertainty over the approaching July 9 deadline for the tariff issue has boosted safe-haven demand,” said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades.

Trump announced that Washington will start sending letters to countries on Friday, marking a shift from earlier plans for individual trade deals. On April 2, he announced reciprocal tariffs of 10%-50%, but later reduced most to 10% until July 9 to allow for negotiations.

Meanwhile, Trump’s tax-cut legislation cleared its final hurdle in Congress on Thursday, making his 2017 cuts permanent, funding his immigration crackdown and adding new tax breaks promised during Trump’s 2024 campaign.

Data showed US job growth was unexpectedly solid in June, but nearly half of the increase in nonfarm payrolls came from the government sector, with private industry gains being the smallest in eight months as businesses battled rising economic headwinds.

“The latest US payroll data supports the case of a slowdown of the economy, but no standstill, slowing the pressure on the Fed to cut interest rates anytime soon,” said UBS commodity analyst Giovanni Staunovo.

Elsewhere, spot silver edged 0.2% higher to USD 36.9 per ounce and palladium eased 0.1% to USD 1,135.79. Platinum rose 1.5% to USD 1,387.54 per ounce and was heading for its fifth straight week of gains.

(Reporting by Brijesh Patel in Bengaluru, additional reporting by Ishaan Arora; Editing by Harikrishnan Nair and Vijay Kishore)

 

This article originally appeared on reuters.com

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