Global gold price today 2025/7/16
According to the international economics desk of Webangah News Agency,citing Tasnim News Agency and Reuters,gold prices fell in Friday’s trading and are on track for their biggest weekly decline in the past six months. The strengthening dollar and easing concerns over a trade war have reduced demand for gold as a safe-haven asset.
The price of gold per ounce today dropped by 0.77% to $3,215 and 17 cents.Futures prices for gold on New York’s COMEX market also declined by 0.27%, reaching $3,218.
The US dollar index rose 0.3% over the past week and is poised for its fourth consecutive weekly gain. A stronger dollar makes gold more expensive for holders of other global currencies.
The US and China agreed last week to suspend retaliatory tariffs on…
Central Banks Temporarily Halt Gold Purchases Amid Economic Shifts
Central banks have temporarily paused their gold purchases. Meanwhile, U.S. economic data reveals an unexpected drop in producer prices for April, coupled with slowing retail growth.
U.S. consumer prices rose less than anticipated in April. Michael Barr,a Federal Reserve official,stated on Thursday that the economy remains strong as inflation nears the central bank’s 2% target,though trade policies have clouded its outlook.
Markets anticipate a 57-basis-point rate cut this year, with declines likely starting in September.
Gold has consistently served as a safe haven during economic and political instability, and low-interest-rate environments further bolster its appeal.
Analysts argue that amid global economic uncertainty and ambiguous inflation trends, gold’s price decline has spurred demand, reinforcing its status as a preferred asset. Among other precious metals…
Gold fell by 0.38% to $32.56, while platinum traded at $991.77, down 0.24%.
