According to reports from Jinshi Data, COMEX gold prices rose by 0.71% to $3,370.30 per ounce, while Shanghai gold futures fell by 0.45% to 773.56 yuan per gram. Trump signed an executive order to delay the tariff equalization period to August 1 and threatened high tariffs on copper, pharmaceuticals, and semiconductors.
The minutes from the Federal Reserve's June meeting show that officials have increasing disagreement over the interest rate outlook, mainly due to differing expectations of the impact of tariffs on inflation. CME data indicates a 93.3% probability of maintaining interest rates in July, with a 6.7% probability of a 25 basis point cut.
As trade conflicts escalate and inflation pressures increase, the market lowers expectations for a rate cut in September.
