BTCC / BTCC Square / Global Cryptocurrency /
Gold Slips as Platinum Surges Amid Fed Policy Concerns

Gold Slips as Platinum Surges Amid Fed Policy Concerns

Published:
2025-07-18 15:27:01
6
1
BTCCSquare news:

Gold is poised for its first weekly decline in three months, with spot prices edging up 0.3% to $3,349.49 per ounce after a 1.1% drop on Thursday. Despite the modest recovery, the precious metal remains down 0.2% for the week. U.S. Gold futures mirrored the trend, slipping 0.3% to $3,354.70.

Platinum stole the spotlight, jumping 1% to $1,472.20 per ounce—its highest level since August 2014. Palladium followed suit, climbing 1.4% to $1,297.78, while silver held steady at $38.12.

Market sentiment wavered as former President TRUMP reignited debates about Federal Reserve independence. Early reports suggested he might dismiss Chair Jerome Powell, but subsequent comments walked back the threat. "Market participants remain concerned about the independence of the Fed," said UBS analyst Giovanni Staunovo. "For now, those risks have declined, and U.S. economic data has remained solid, capping the upside for gold."

Robust economic indicators further pressured gold. June retail sales exceeded expectations, while weekly jobless claims dipped, underscoring labor market resilience. The combination of political noise and strong fundamentals created headwinds for traditional safe-haven assets.

|Square

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users