Gold steady as investors await US trade updates, central bank meetings
Spot gold held its ground at US$3,352.19 per ounce, as of 0250 GMT. US gold futures were steady at US$3,358.70.
'Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,' KCM Trade chief market analyst Tim Waterer said.
'The closer we move towards the key August 1 deadline without any new trade deals emerging, the more likely gold is to start fancying another run to towards the US$3,400 level and perhaps beyond.'
Investors are eyeing developments in trade negotiations ahead of US President Donald Trump's Aug 1 deadline, as US Commerce Secretary Howard Lutnick remains optimistic about reaching a deal with the European Union.
Trump might visit China before going to the Asia-Pacific Economic Cooperation summit between Oct 30 and Nov 1, or he could meet Chinese leader Xi Jinping on the sidelines of the Apec event in South Korea, reports said.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
At its meeting later this week, the European Central Bank is expected to hold interest rates steady at 2.0 per cent following a string of cuts.
Last week, Federal Reserve Governor Christopher Waller said he still believes that the US central bank should cut rates at its policy meeting next week.
Gold, often considered a safe-haven asset during economic uncertainties, tends to do well in a low interest rate environment.
In Japan, the ruling coalition lost control of the upper house in an election on Sunday, further weakening Prime Minister Shigeru Ishiba's grip on power as the US tariff deadline looms.
Elsewhere, spot silver edged 0.1 per cent higher to US$38.22 per ounce, platinum added 0.3 per cent to US$1,425.11 and palladium gained 0.2 per cent to US$1,243.47. REUTERS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
2 hours ago
- Straits Times
EU Commission discusses curbs on Israel research funding amid Gaza pressure
Find out what's new on ST website and app. FILE PHOTO: Palestinians gather at the site of an overnight Israeli air strike on a house, in Khan Younis in the southern Gaza Strip, July 28, 2025. REUTERS/Ramadan Abed/File Photo BRUSSELS - European Commissioners will on Monday discuss a proposal to partially suspend Israel's access to the EU's Horizon research funding program following calls from EU governments to increase pressure on Israel over the humanitarian crisis in Gaza. Multiple EU countries said last week that Israel was not living up to its commitments under an agreement with the European Union on increasing aid supplies to Gaza and asked the Commission to put concrete options on the table. The proposal was mentioned in a published agenda of Monday's meeting of the College of Commissioners, the top decision-making body of the European Union's executive. But the Commission has not explained it in detail. EU and Israeli officials had no immediate comment on the proposal. Israel has been participating in the EU's research programs since 1996, taking part in thousands of joint research projects over the past decades. Earlier this month, EU foreign policy chief Kaja Kallas said Israel had agreed to expand humanitarian access to Gaza, including increasing the number of aid trucks, crossing points and routes to distribution hubs. But in a tense meeting of European ambassadors in Brussels last week, countries including France, the Netherlands and Spain said not enough was being done, according to diplomats. Top stories Swipe. Select. Stay informed. Asia Thailand, Cambodia agree to 'immediate and unconditional ceasefire' to de-escalate border row Asia Gunman kills 5 near Bangkok's Chatuchak market before taking own life Singapore Tanjong Katong sinkhole: BCA to conduct independent probe, act against any non-compliance Singapore Foreign workers who rescued woman from sinkhole given tokens of appreciation Singapore COE quota up 2.6% to 18,701 for August-October period Business SIA's first-quarter profits fall by 59%; airline group sees volatile times ahead Singapore Ong Beng Seng set to plead guilty on Aug 4 in case linked to ex-transport minister Iswaran Singapore Jail for former pre-school teacher who tripped toddler repeatedly, causing child to bleed from nose Earlier this month, EU officials presented a list of options that the bloc could pursue to put pressure on Israel but the bloc has so far refrained from pursuing any of them. Israel on Sunday announced a halt in military operations for 10 hours a day in parts of Gaza and new aid corridors, while Jordan and the United Arab Emirates have airdropped supplies into the enclave. But officials and aid groups remain concerned and say much more needs to be done to alleviate the dire humanitarian situation in Gaza. REUTERS
Independent Singapore
2 hours ago
- Independent Singapore
Drink stall chain allegedly makes staff pay for incorrect orders, says part-time worker
Photo: Freepik/zinkevych (for illustration purposes only) SINGAPORE: A part-time worker has publicly criticised a 'drink stall chain' in Singapore for making her and other employees pay for any incorrectly made beverages. In a post on the r/SGexams subreddit, the worker wrote that she found the policy both 'unnecessary' and 'unreasonable,' especially since they are only paid S$9 per hour. 'It is already barely enough to make ends meet,' she said. 'It's hard to justify this kind of policy. I mean, yeah, a drink is just four dollars and everybody just needs to fork out a dollar to pay for it, which isn't that much, but I don't understand why employees should be held financially responsible when the drink can simply be remade or the order voided, with the reason written on the receipt.' She went on to ask fellow Redditors whether it was truly fair for management to impose such penalties on workers already earning minimum wage, just because of what she called 'a puny mistake.' While she didn't reveal the company's name, she hinted that 'it's not a small business' and that it has 'multiple branches' across the city-state. 'This practice is likely illegal & unethical.' Under her post, several Redditors urged the worker to report the company's policy to the Ministry of Manpower (MOM). One wrote, 'Illegal deductions are only permissible after the employer conducts a proper investigation to determine who is at fault. Keep track and ask the owner to pay back when quitting, or report to MOM.' Another said, 'Document it in writing and file report to MOM. Plus the cost of the drink definitely isn't worth 4 dollars.' A third wrote, 'This practice is likely illegal & unethical. Report to MOM.' A fourth shared, 'Nope. Usually, they will give it to the staff as a free drink/toss it away/if the next order is coincidentally the same drink. I have never heard of this. Not common when I work in F&B or juice bars.' Employers must hold an inquiry before deducting wages According to the Ministry of Manpower, employers are permitted to deduct an employee's salary 'for damage or loss of money or goods,' but only under specific conditions. They must first carry out a proper inquiry to determine whether the employee is directly responsible. The employee must also be given an opportunity to explain the circumstances before any deductions are made. If the employer decides to proceed, the deduction must not exceed 25% of the employee's monthly salary and must be made as a one-time lump sum. Read also: Woman says her brother keeps falling into debt chasing 'fast money,' and their mum always bails him out () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Independent Singapore
2 hours ago
- Independent Singapore
Nvidia and Tesla led Singapore's most searched stocks in June
Photo: Depositphotos/tang90246 SINGAPORE: Nvidia and Tesla were the most searched stocks by Singaporeans in June 2025. Nvidia topped the list with about 276,600 Google searches in Singapore, while Tesla recorded 192,600 monthly searches, Singapore Business Review reported, citing data from forex broker BrokerChooser. Globally, Nvidia saw 14.6 million monthly searches. Earlier this month, the US chipmaker became the first publicly traded company to reach a US$4 trillion (S$5.14 million) market value amid the AI boom. Meanwhile, the report noted that searches for 'Tesla stock' in the city-state went up by 103.6% compared to the same time last year. Software provider Palantir came in third, with 57,340 monthly searches. This year, the software firm, which provides services to US military and intelligence agencies, recently became one of the top 20 most valuable public companies in the US by market capitalisation. Meta, which finalised its US$14.3 billion investment in AI startup Scale AI last month, ranked fourth with 56,170 searches. The deal came with Scale AI co-founder and CEO Alexandr Wang leaving the company to join an artificial general intelligence (AGI) team being formed by Meta CEO Mark Zuckerberg. See also Is Singapore Still Ideal for Expats? (Spoiler: Opposite of Yes) Other names on the list included Chinese e-commerce giant Alibaba (45,750), Apple (43,740), and Google's parent company, Alphabet (32,400). BrokerChooser said it used the keyword analytics tool Ahrefs to analyse the most searched stocks on Google, starting with a seed list of the 50 largest companies by market capitalisation. The study also included data from Visual Capitalist on stock market participation rates by country, with data collected on Jul 8, 2025. /TISG Read also: Nvidia CEO to sell more advanced chips to China after H20 ban, warns of 'tremendous loss' for firms in potential US$50B AI market Featured image by Depositphotos (for illustration purposes only) () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
