{"id":117385,"date":"2025-07-22T16:58:57","date_gmt":"2025-07-22T13:58:57","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=117385"},"modified":"2025-07-22T17:00:31","modified_gmt":"2025-07-22T14:00:31","slug":"gold-outlook-tariff-deadlines-loom-as-fed-chair-powell-takes-the-stage","status":"publish","type":"post","link":"https:\/\/www.ironfxcn.com\/ar\/gold-outlook-tariff-deadlines-loom-as-fed-chair-powell-takes-the-stage\/","title":{"rendered":"Gold Outlook: Tariff deadlines loom as Fed Chair Powell takes the stage"},"content":{"rendered":"

Since our last report Gold\u2019s price<\/a>, has moved higher and is currently above $3404 per troy ounce. In today\u2019s report we are to discuss mainly fundamental issues and we intend to end the report with a technical analysis of Gold\u2019s daily chart.<\/p>\n\n\n\n

Fed riddles continue<\/strong><\/strong><\/h2>\n\n\n\n

The narrative surrounding the Federal Reserve<\/strong> has continued to tantalize the markets. In particular, we are referring to the recent reports by media outlets that President Trump had asked GOP lawmakers if he should fire Fed Chair Powell<\/strong>. <\/p>\n\n\n\n

Specifically, CBS<\/strong> reports that Trump having stated to reporters in the Oval Office that \u201cI talked to them about the concept of firing him. I said, ‘What do you think?’ Almost all of them said I should. But I’m more conservative than they are\u201d showcasing in our opinion the President\u2019s attempt to gauge the mood and possible support he would receive from GOP lawmakers<\/strong> should he move forward with the firing of the Fed Chair. <\/p>\n\n\n\n

In turn, the possibility of the Fed\u2019s independence being threatened and the incumbent Fed Chair being fired could lead to heightened uncertainty in the market\u2019s as such a move could set a dangerous precedent. <\/p>\n\n\n\n

Moreover, such a scenario<\/strong> could potentially aid gold\u2019s price given its status as a safe haven asset. Furthermore, the attacks on the Fed Chair<\/strong> have continued with Rep. Anna Paulina Luna, (R-Fla) referring Fed Chair Powell to the DOJ for criminal charges and accusing him of two specific instances of lying under oath. <\/p>\n\n\n\n

Nonetheless, Fed Chair Powell is set to speak later on today on a conference on bank regulation and given the recent attacks on the Fed, the Fed Chair\u2019s speech today could gather significant attention as any indications towards his future could influence the dollar and thus gold<\/strong>, given its inverse relationship with the dollar. <\/p>\n\n\n\n

In our opinion, the Fed Chair may attempt to refrain from commenting on the Fed\u2019s monetary policy decision and on his future as the Fed Chair<\/strong>, yet should any of those two scenarios occur we may see heightened volatility in the markets<\/p>\n\n\n\n

1st<\/sup> of August deadline nears as nations sharpen their knives<\/strong><\/strong><\/h2>\n\n\n\n

The US\u2019s 1st<\/sup> of August tariff deadline<\/strong> is looming<\/strong> and with just over one week to go until they go into effect, some nations are still trying to reach a deal with the US<\/strong>. Starting with the EU, the 30% tariff<\/strong> is set to go into effect on the 1st<\/sup> of August but the bloc won\u2019t go down without a fight. <\/p>\n\n\n\n

Specifically, according to Reuters<\/strong>, \u201cA growing number of European Union member states, including Germany<\/strong>, are\u00a0considering using<\/a>\u00a0wide-ranging “anti-coercion” measures targeting U.S. services\u201d. In turn the EU\u2019s preparation and talks of the anti-coercion act may be seen either as a tool to be used as leverage in their negotiations with the US prior to the August 1st<\/sup> deadline, or a possible preparation for a prolonged trade battle with the US<\/strong>.<\/p>\n\n\n\n

Moreover, attention also turns to China whose deadline is set for the 12th<\/sup> of August and to which Treasury Secretary Scott Bessent<\/strong> has stated per Bloomberg \u201cI tell market participants not to worry about Aug. 12,\u201d which could imply an extension may be on the way.<\/p>\n\n\n\n

Nonetheless as the tariff deadlines continue to approach and with a lack of progress being made, concerns by market participants may resurface over the state of the global economy. In turn such concerns could potentially aid the precious metal\u2019s price.<\/p>\n\n\n\n

Gold Technical Analysis<\/strong><\/h2>\n\n\n\n

XAUUSD 4H Chart<\/strong><\/strong><\/h3>\n\n\n\n
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