Commodities
Gold Prices Tread Water as US GDP Falls Short of Forecast
US economic data released on July 30 showed that the country's GDP grew by 1.5% in the second quarter of 2026, lower than the 2.1% forecasted by economists.
The slowdown in the US economy is attributed to a decline in government spending, investment, and exports, with personal consumption increasing faster but only partially offsetting the negative impact from other components.
Despite the mixed signals for monetary policy prospects, gold prices edged up 0.2-0.3% during the day, trading around $4,074-$4,077 per ounce.
The relatively cautious reaction of gold prices indicates that US economic data is creating uncertainty about future interest rate decisions by the Federal Reserve (Fed).