World Gold Council: Gold Edged Up, But Stronger U.S. Dollar Proved a Drag
The report stated that gold prices edged up 0.3% to finish July at US$3,299/oz.
SEATTLE (Scrap Monster): In its most recent Gold Market Commentary report, the World Gold Council (WGC) observed that although gold prices increased little in July of this year, a stronger US dollar served as a drag. Expectations of inflation brought on by rising tariffs and continued geopolitical tensions worldwide were the primary causes of the price increase.
According to the study, gold prices ended July at US$3,299/oz, up 0.3%. According to the report, the yellow metal's prices have increased by 26% so far this year. All of the major currencies saw good gold returns when the dollar strengthened.
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23 tons of gold ETF inflows totaling $3.2 billion were recorded in July. North America and Europe each received 12 and 11 tons of inflows, which were distributed equally between them. Inflows into gold ETFs also slightly increased in the Asian area. The dollar's weakening, ongoing risks, and reducing rates would encourage more investments in gold ETFs, which might boost gold prices.
The report claims that investors in COMEX futures have not taken part in the 2025 rally. The investors now have the chance to reestablish their positions after regaining some of their lost ground. Lower policy rates, higher levels of geopolitical risk, and the structurally weaker US dollar are probably going to serve as triggers.
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