Gold Falls to $4,086.60/oz on July 8 Amid Fed Rate Concerns and Geopolitical Tensions

XAU-0.30%
According to Comex data, gold futures fell on July 8, closing at $4,086.60 per ounce with a decline of 1.70%, while Shanghai Futures Exchange (SHFE) gold also dropped 1.47% to 892.30 yuan per gram. The decline was driven by mixed signals from the Federal Reserve's June meeting minutes, which indicated officials view AI investment-driven inflation as a persistent threat alongside Middle East tensions and tariff policies, leaving the path to further rate hikes uncertain. Escalating Middle East conflicts, including threats to Hormuz Strait shipping, have brought volatility back to inflation-linked trading.
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