International News
Gold price struggles to capitalize on intraday gains amid receding Fed rate cut bets
Concerns about Trump’s trade tariff and a modest USD weakness underpin the XAU/USD pair.
Gold price (XAU/USD) builds on the previous day’s bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains some follow-through positive traction for the second straight day on Thursday. A fresh leg down in the US Treasury bond yields exerts downward pressure on the US Dollar (USD), which, in turn, is seen benefiting the USD-denominated commodity. Apart from this, worries about US President Donald Trump’s tariffs and a global trade war underpin the safe-haven bullion.
Meanwhile, the hotter US consumer inflation figures released on Wednesday reaffirmed market expectations that the Federal Reserve (Fed) will stick to its hawkish stance and hold interest rates steady for an extended period. This could act as a tailwind for the US bond yields and the Greenback, which, in turn, acts as a headwind for the non-yielding Gold price amid still-overbought conditions on the daily chart. Traders now look forward to the release of the US Producer Price Index (PPI) for some meaningful impetus.
Dubai Diamond Exchange (DDE) and the London Diamond Bourse (LDB) have signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation between the two diamond trading centres, expanding business opportunities for members, and promoting responsible growth across the global diamond and gemstone trade. The agreement was announced on 8 July 2026.
The MoU establishes a framework for collaboration in responsible trading, commercial development, knowledge sharing, and closer engagement between members of the two bourses. It also seeks to encourage dialogue on issues affecting the international diamond industry as trading centres adapt to an increasingly interconnected global marketplace.
The agreement was signed by Ahmed Bin Sulayem, Chairman of the Dubai Diamond Exchange, and Charlotte Rose, President of the London Diamond Bourse. It marks the first formal international partnership under Rose’s presidency, which began in June.
Ahmed Bin Sulayem, Chairman, Dubai Diamond Exchange, said:
“The Dubai Diamond Exchange was built on the belief that connecting markets creates opportunity. This partnership with the London Diamond Bourse reflects that philosophy, bringing together two major diamond trading centres to strengthen collaboration and expand opportunities for our respective members. The future of our industry will not be built by individual markets acting alone. By working more closely together, we can establish a stronger network of trusted trading centres, sharing expertise, upholding recognised standards, and reinforcing confidence and growth across the global diamond trade.”
Charlotte Rose, President, London Diamond Bourse, noted:
“There is no better partner for the London Diamond Bourse to begin this new chapter with than the Dubai Diamond Exchange. As a fellow member of the World Federation of Diamond Bourses, the DDE shares our commitment to trusted, well-governed trading, and this agreement opens up real opportunities for members on both sides. I’m looking forward to seeing where this partnership takes us.”
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