Influencing Factors on the Gold Price
On July 8, 2025, the gold price fell by more than 1%. The main reason for this is the rising US Treasury yields and a stronger US dollar. These economic changes significantly affect the demand for gold, a traditional safe haven.
Rising US Yields
Higher yields on US government bonds increase the opportunity cost of holding gold, which generates no interest. This leads to a decrease in demand and negatively affects the price.
Stronger US Dollar
The stronger dollar makes gold more expensive for buyers in other currencies, which also has a dampening effect on prices.
Relaxation in Trade Conflict
The Trump administration’s decision to postpone the tariff deadline has reduced uncertainty in the trade markets. This has temporarily increased risk appetite in the markets and reduced pressure on gold as a safe haven.
Market Outlook and Technical Analysis
Although the gold price is experiencing a short-term setback, analysts expect an increase by the end of 2025 to a range between $3,315 and over $3,900 per ounce. Prices over $5,000 are even predicted for 2026. The gold price is currently in a correction phase within a medium-term upwards trend, with support zones around $3,200 to $3,300 being significant.
These price movements illustrate the strong dependence of commodity prices on interest developments and geopolitical decisions, which will also be crucial for investment strategies in the precious metals market in the future.