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$3,350 and Rising: Gold Eyes Breakout as Fed Rate Cut Bets Heat Up

Updated: July 15, 2025 09:44

Image Source : Economy Middle East
Gold prices ticked higher in early Tuesday trading, with spot gold rising 0.1% to $3,346.94 per ounce and US futures holding steady at $3,355.60. The modest uptick reflects cautious optimism ahead of the US Consumer Price Index (CPI) release, a key data point that could shape the Federal Reserve’s interest rate trajectory.
 
Key Highlights:
  • Traders expect headline inflation to rise to 2.7% YoY for June, up from 2.4%.
  • Core inflation is forecasted at 3.0%, compared to 2.8% in May.
  • Markets are pricing in 50 basis points of rate cuts by yearend, with the first expected in September.
Macro Context:
  • US President Donald Trump has threatened 30% tariffs on imports from Mexico and the EU starting August 1, intensifying trade tensions.
  • Trump also renewed criticism of Fed Chair Jerome Powell, urging rates to be cut to 1% or lower.
  • Higher treasury yields and a stronger dollar have capped gold’s upside, but geopolitical uncertainty continues to support safehaven demand.
Market Sentiment:
  • Gold’s move toward $3,350 signals its role as a hedge against tariffdriven inflation and economic instability.
  • Analysts suggest a pullback in USD or yields may be needed for gold to breach the $3,400 mark.
  • Silver gained 0.3% to $38.24 per ounce, while platinum and palladium edged up 0.3% and 0.1% respectively.
Outlook:
All eyes are on the CPI release at 1230 GMT, which could either reinforce or derail expectations of Fed easing.
 
Sources: Moneycontrol, Economic Times, Energy News, Financial Express, Reuters.

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