Geopolitical Optimism Lifts Precious Metals

Optimism surrounding a potential US-Iran deal that could reopen the Strait of Hormuz has contributed to lower oil prices and improved broader market risk sentiment. This environment was cited as a supportive factor for precious metals, with both gold and silver prices recovering as the US Dollar and oil prices declined. investing +6

US Labor Market Softens as Fed Monitors Inflation

Data from the US Bureau of Labor Statistics indicated a cooling labor market, with job openings declining to 7.35 million in June. Concurrently, Federal Reserve official Anna Paulson remarked that underlying inflation remains too high and requires a mildly restrictive policy, while also keeping an "open mind" on the future rate outlook. investing +5

Broad US Dollar Weakness Provides Tailwinds

The US Dollar Index has weakened, a move analysts attribute to the fallout from the recent FOMC meeting, softer economic data, and a re-evaluation of its safe-haven status. A weaker dollar was noted as a positive driver for gold prices, with coordinated intervention by the US and Japan to support the yen also weighing on the greenback. investing +5

Canadian Gold Shipments Drive Trade Surplus

Canada reported its fourth consecutive trade surplus in June, reaching a four-year high. According to official data, significant shipments of gold were a key contributor to this strong performance in the country's merchandise trade balance. investing +1