Gold price rises above $3,300 amid safe-haven demand ahead of FOMC minutes

Gold price continues positive bias and touches fresh daily high; trades above $3,300 ahead of FOMC Minutes

Gold prices rose to a fresh intraday high above $3,300 during early European trading as safe-haven demand grew amid ongoing trade uncertainties, US fiscal concerns, and geopolitical tensions. Despite last week’s trade optimism, investors remain cautious about the impact of US President Donald Trump’s tariffs and the worsening US fiscal outlook, driving demand for gold as a secure asset.

The US Dollar showed modest intraday gains but struggled to maintain momentum due to fears surrounding the US fiscal health and growing expectations that the Federal Reserve may cut interest rates for the second time this year. This cautious stance has limited further upside for gold, with traders awaiting the release of the Federal Open Market Committee (FOMC) minutes for clearer guidance on future monetary policy decisions.

As the market looks for signals from the FOMC minutes, gold remains supported by its status as a safe haven amid ongoing uncertainty in trade, fiscal policy, and global geopolitics.