Gold Recovers from One-Month Low as Dollar Weakens and Tariff Fears Rise
Gold prices are rising again after falling to their lowest level in a month. Spot gold moved up by nearly 0.5%, climbing from around $3,248 to over $3,290. U.S. gold futures also saw a solid jump, crossing the $3,300 mark.
The main reason behind this recovery is the weaker U.S. dollar. As the dollar drops, gold becomes cheaper for buyers using other currencies, which increases demand.
Another factor is the growing uncertainty around possible U.S. tariffs, expected by July 9. This has made investors more cautious and pushed them toward safe-haven assets like gold. At the same time, many traders believe the Federal Reserve may soon cut interest rates, which is also pulling the dollar down and helping gold move up.
Some easing in global tensions—such as improved U.S.–China relations and a cooling Middle East situation—have added to gold’s rebound.
From a technical point of view, gold is finding strong support around $3,250. If it stays above this level, the next target could be around $3,325.
Impact:
If the dollar stays weak and tariff fears continue, gold could keep rising. Prices might aim for the $3,300 to $3,350 zone in the near term.