Gold rises at the beginning of the week

The gold markets witnessed a new upward wave on Monday, as the price of an ounce reached about 3,365 dollars, recording a rise for the second consecutive session.

This rise comes driven by growing investor fears about the tariff policy adopted by US President Donald Trump, and the tensions it may cause in global markets.

Statements by the US Commerce Secretary exacerbate fears

The US Commerce Secretary confirmed on Sunday that the first of August is the deadline for the start of the application of mutual tariffs, noting that negotiations may continue even after this date.

He also noted that smaller countries would most likely face a basic tariff of 10%.

These statements come after Trump's recent letters to the trading partners of the United States, in which he announced the imposition of new tariffs, some of them up to 40%, raising fears of the escalation of the trade war and its impact on the global economy.

Strong economic data limits the rise of gold

Despite the upward pressure on gold, the US economic data released last week tempered expectations of an interest rate cut by the Federal Reserve this month, limiting the significant increase in gold prices.

However, the yellow metal remains supported by long-term strategic factors, especially in light of global economic and political uncertainty.

Watch the Fed Chairman's remarks

This week, investors are watching the statements of Jerome Powell, the chairman of the Federal Reserve, in search of clear signals about the policy of the US central bank, especially with regard to interest rates and economic prospects.