International News
Gold price drifts lower to near $3,330 ahead of US-Ukraine talks
Pandora posted 4% revenue growth to DKK 7.08 billion in Q2 2025, driven by strong US demand and a 36% surge in lab-grown diamond sales. The brand will close 100 underperforming China stores—double earlier estimates—while still targeting 400–500 new global openings by 2026.
Gold prices edged lower to around $3,330 in early Asian trading on Monday, pressured by stronger-than-expected US economic data. The drop comes ahead of a key meeting later in the day between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy, which traders are watching closely for geopolitical signals.
Last week’s US Producer Price Index (PPI) rose 3.3% year-on-year in July, well above market expectations of 2.5% and the previous 2.4%. The hotter-than-expected inflation reading reduced bets on a potential Federal Reserve rate cut in September, creating headwinds for the yellow metal.
Adding to the picture, US Retail Sales grew 0.5% month-on-month in July, matching forecasts but slightly below June’s upwardly revised 0.9%.
While strong economic data pressures gold, safe-haven demand linked to geopolitical tensions may limit further downside in the near term.
US spot Gold prices climbed above $4,250 early Monday, touching a six-week high as investors turned cautious ahead of the upcoming US ISM Manufacturing PMI release. The yellow metal is poised for further upside momentum if it secures a sustained daily close above the crucial $4,250 resistance level.
The US Dollar opened December on a softer note, pressured by rising expectations that the Federal Reserve may announce a rate cut next week. Growing market confidence in easing monetary conditions has boosted the appeal of non-yielding assets such as gold.
Analysts note that a decisive break and close above $4,250 could reinforce bullish sentiment and pave the way for an extended rally in the days ahead. As global markets await fresh cues from the US economic calendar, gold continues to benefit from a favorable macroeconomic backdrop and robust safe-haven demand.
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