{"id":116213,"date":"2025-07-15T14:42:39","date_gmt":"2025-07-15T11:42:39","guid":{"rendered":"https:\/\/ironfx-com.wp-dev.int.theitops.net\/?p=116213"},"modified":"2025-07-15T14:43:09","modified_gmt":"2025-07-15T11:43:09","slug":"gold-outlook-golds-price-remains-stable-for-now","status":"publish","type":"post","link":"https:\/\/www.ironfxcn.com\/fa\/gold-outlook-golds-price-remains-stable-for-now\/","title":{"rendered":"Gold Outlook: Gold\u2019s price remains stable for now"},"content":{"rendered":"

Since our last report Gold\u2019s price<\/a>, despite some ups and downs remained relatively stable. 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

Gold\u2019s correlations being inactive<\/strong><\/h2>\n\n\n\n

In contrast to gold\u2019s stability the USD has been on the rise over the past week, implying that the negative correlation of the two trading instruments has been interrupted. <\/p>\n\n\n\n

At the same time, we note that despite a drop of US yields last Wednesday, they regained traction, and US yields are currently near the same level, they were in our last report. In general, we would note that the negative correlation of US yields with gold\u2019s price is also inactive. <\/p>\n\n\n\n

Last but not least we would like to note the rally of silver\u2019s price which also comes into contrast with gold\u2019s stability disproving, at least at the current stage, the notion of a positive correlation of the gold\u2019s price with silver\u2019s price. <\/p>\n\n\n\n

Nevertheless, should we see the negative correlation of the USD with gold\u2019s price reviving, any strengthening of the USD could weigh on gold\u2019s price and the contrary.<\/p>\n\n\n\n

The release of the US June CPI and PPI rates<\/strong><\/h2>\n\n\n\n

As these lines are written, the US CPI rates for June are still to be released and together with the release of the PPI rates could shake gold\u2019s price. The release is expected to show an acceleration of the CPI and PPI rates for the past month, implying a persistence of inflationary pressures in the US economy. <\/p>\n\n\n\n

Such a persistence of inflationary pressures could ease further, any market expectations for the Fed to cut rates until the end of the year could weaken. <\/p>\n\n\n\n

Please note that currently, market expectations are for the bank to cut rates twice until the end of the year once in September and a second time on December. <\/p>\n\n\n\n

Hence should we see the US June CPI and PPI rates accelerating beyond market expectations, we may see the releases weighing on gold\u2019s price and vice versa.<\/p>\n\n\n\n

The Fed\u2019s intentions<\/strong><\/h2>\n\n\n\n

Continuing the last paragraph\u2019s analysis, we zoom in on the Fed\u2019s intentions in this one. The release of the Fed\u2019s last meeting minutes, last Wednesday, showed that Fed policymakers seem to maintain dovish expectations and expects the bank to ease its monetary policy. <\/p>\n\n\n\n

On the other hand we have to also note that Fed policymakers seem not to be of the same opinion in regards to extent of the bank\u2019s monetary policy easing and its timing. <\/p>\n\n\n\n

Furthermore, we also note the rumors of a possible resignation of Fed Chairman Powell, yet we see this scenario as possibly remote at the current stage. <\/p>\n\n\n\n

Yet should such rumors intensify we may see the market\u2019s dovish expectations growing which in turn could support gold prices.<\/p>\n\n\n\n

Trump\u2019s trade wars continue<\/strong><\/h2>\n\n\n\n

US President Trump continued with his trade wars, threatening to levy a 30% tariff on imports entering US soil from the EU and Mexico, from August 1st onwards. <\/p>\n\n\n\n

Letters announcing the US intentions were sent on Saturday to the two sides. The US intentions were characterised by the EU and Mexico as unfair and efforts are still being made for a possible solution to the problem yet market hopes for such a scenario may have been weakened. <\/p>\n\n\n\n

Overall, the markets seem to be less sensitive to US President Trump\u2019s trade wars and despite the issue still being fundamentally important, seems to be generating little movement in the markets currently. It may take substantial, unexpected developments for the markets to react on the issue. <\/p>\n\n\n\n

Should we see the issue intensifying substantially the markets\u2019 worries for the possible outcome of Trump\u2019s trade wars, we may see gold\u2019s price getting some support as the shiny metal may get safe haven inflows.<\/p>\n\n\n\n

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

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