Spot gold falls below $3,360 per ounce, down 0.35% intraday.

Spot gold falls below $3,360 per ounce, down 0.35% intraday.

Spot gold prices fell below $3,360 per ounce on July 2, 2025, marking a 0.35% intraday decline. This movement comes as gold prices consolidate within established trading ranges ahead of the Federal Reserve Chair Jerome Powell’s Jackson Hole Economic Policy Symposium address [2].

Gold spot prices advanced modestly to $3,338.75, down $9.05, while silver traded at $38.00 per ounce, up $0.24. Both precious metals are consolidating as market participants position themselves for the upcoming Federal Reserve meeting [2]. The gold-to-silver ratio remains elevated at approximately 88:1, suggesting potential undervaluation in silver relative to its historical relationship with gold.

Recent U.S. inflation data showed core CPI accelerating to a five-month high of 3.1% in July, driven partly by tariff-related price pressures, though overall headline inflation held steady at 2.7%. Gold ETF holdings reached a two-year high of 92.66 million ounces, reflecting sustained institutional interest despite short-term price consolidation [2].

Gold Fields, a globally diversified gold producer, reported sharply higher profit of $1.03 billion in the six months to June 30, from $389 million at the same time a year before, after an improved operational performance was boosted by the higher gold price [1]. The dividend for the group was more than doubled to 700 SA cents per share from 300 SA cents a year before.

Gold Fields' attributable profit came to $1.15 per share compared with $0.43 per share the previous year. Attributable gold produced came to 1 136,000 ounces for the six-month period compared with 918 000 the previous year at the same time. Managed gold produced came to 1 171 000 ounces versus 958 000 ounces [1].

The company expects attributable gold-equivalent production to be between 2 250 000 ounces and 2 450 000 ounces. All-in-sustaining-costs (AISC) are expected to be between $1 500 per ounce and $1 650 per ounce [1].

Historical analysis shows that Gold Fields’ stock has historically risen by an average of 2.84% following earnings reports that exceeded expectations, with a consistent hit rate of positive returns in such scenarios. This pattern suggests that investors who acted on the company’s strong earnings performance—such as the 2.84% intraday gain observed on August 23, 2025—could have captured meaningful short-term gains while aligning with its long-term operational momentum.

The drop in gold prices reflects market consolidation ahead of the Federal Reserve’s meeting, where a 25-basis-point rate cut is expected. Gold prices are likely to remain volatile in the short term as investors await policy signals from the central bank [2].

References:
[1] https://businessreport.co.za/companies/2025-08-24-gold-fields-announces-more-than-doubled-dividend-amid-rising-gold-prices/
[2] https://www.usagold.com/daily-gold-price-history/