Gold prices fell 0.28% to 97,545 as the US dollar strengthened after the US-EU trade deal. At the same time, the US imposed a 15% tariff on some European goods. This increased demand for the dollar and lowered gold prices.
In June, Swiss gold exports rose 44% to their highest level since March, with large shipments to the UK (83.8 metric tons – the highest since August 2019). Gold stored in London also reached its highest level since August 2023. However, China’s gold imports fell to 63 metric tons in June, as demand for gold in Asia, including China and India, remained weak due to high prices. In India, gold was sold at a discount of up to $15 an ounce.
