As Tariff Deadline Approaches, Market Uncertainty Drives Gold Prices Above $3,400

According to Jinse Finance, gold prices rose more than 1% on Monday, surpassing the $3,400 per ounce mark. This increase was driven by a weakening US dollar and lower US Treasury yields amid uncertainties surrounding trade negotiations. The United States has mandated that all countries must reach an agreement before the August 1 deadline, or face additional tariffs. David Meger, Director of Metals Trading at High Ridge Futures, stated, "As the August 1 deadline approaches, it brings a certain degree of uncertainty to the market, which is certainly favorable." Meger also noted that rumors of the US cutting interest rates earlier than expected are intensifying, and speculation about the possible replacement of Federal Reserve Chair Jerome Powell and a Fed restructuring has heightened market unease.