Tariffs nearing deadline, market uncertainty drives gold prices over $3400.

The price of gold rose by more than 1% on Monday, exceeding $3400 per ounce. This is due to the weakening of the US dollar and US bond yields in the background of uncertainties in trade negotiations. The US has set a deadline of August 1 for countries to reach an agreement, otherwise they will face more tariffs. David Meger, director of metal trading at High Ridge Futures, said, "As the August 1 deadline approaches, this has brought a certain level of uncertainty to the market, which is of course beneficial." Meger stated that rumors of the US cutting interest rates earlier than expected are heating up, and speculation about the possible replacement of Fed Chairman Powell and the reorganization of the Fed have intensified market anxiety.