MoneyWorks4Me

Gold futures finish lower on strong dollar

01 Aug 2025 Evaluate
Gold futures finished lower on Thursday, on account of stronger US dollar following President Trump’s introduction of higher tariffs on multiple countries. The President reaffirmed a 10% global base tariff and imposed retaliatory duties of up to 41% on nations without trade agreements with the US. He also announced a 40% levy on goods suspected of being rerouted through third countries to bypass existing tariffs. Meanwhile, investors keenly eyed July jobs report, which is expected to offer new insights into labour market conditions and help to gauge next policy move of the Federal Reserve.

Gold futures for August delivery down by $4.20 or 0.12% to settle at $3,348.60 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $5.19 or 0.16% to $3,295.12 an ounce.

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