The deadline for tariffs is approaching, and market uncertainty is driving gold prices above $3,400.

Jin10 data reported on July 21, gold prices rose more than 1% on Monday, surpassing the $3400/oz mark. This was due to the weakening of the dollar and U.S. Treasury yields amidst uncertainty in trade negotiations, with the U.S. requiring countries to reach an agreement by the August 1 deadline, or face more tariffs. David Meger, head of metals trading at High Ridge Futures, stated: "As the August 1 deadline approaches, this brings a certain level of uncertainty to the market, which is certainly favorable." Meger noted that rumors of the U.S. potentially cutting interest rates earlier than expected are heating up, and speculation about Fed Chair Powell possibly being replaced and a restructuring of the Fed has intensified market anxiety.