HomeNewsCategoriesAboutContact
Login
Subject matter
Miscellaneous
Community
Politics
Sports
Technology
Economy
Syria News
World News

Contact Us

00971544747918
hello@tesaaworld.com
Dubai, Emirates

Quick Links

  • Home
  • News
  • Categories
  • Tags
  • Terms of Service
  • Privacy Policy

Categories

  • Subject matter
  • Miscellaneous
  • Community
  • Politics
  • Sports

Site Stats

Total Views941,303
Total Posts48,848

2025TESAA PLATFORM•All Rights Reserved

Economy

Gold Prices Rise as Investors Flock to Safe Havens Amid Approval of US Tax Law

July 4, 2025206 ViewsRead Time: 2 minutes
Gold Prices Rise as Investors Flock to Safe Havens Amid Approval of US Tax Law
Font Size
16

Gold prices witnessed a significant rise today, Friday, July 4, heading towards achieving weekly gains of about 2%, as investors turn to safe-haven assets following the approval by the US Congress of a tax cut and spending bill proposed by President Donald Trump, raising concerns about financial stability.


According to available data, the price of gold in spot transactions rose by 0.4% to reach $3340.79 per ounce by 04:24 GMT, while US gold futures increased by 0.3% to $3351 per ounce.


The Republican-dominated US House of Representatives on Thursday approved the massive tax cut bill, which is considered the final step in passing the legislation within Congress. This law is expected to fund President Trump's domestic program, but it may also lead to "depriving millions of Americans of health insurance benefits," according to expert estimates.


The Congressional Budget Office (a non-partisan independent entity) indicated that this legislation will increase the current US national debt of $36.2 trillion by $3.4 trillion over the next decade.


In a related context, the latest US labor market data revealed the addition of 147,000 new jobs in June, surpassing expectations, while the unemployment rate unexpectedly dropped to 4.1%. These indicators have reinforced expectations for the Federal Reserve to keep interest rates unchanged.


On the other hand, President Trump announced that his administration will start sending letters to several countries as of today, Friday, to determine the tariff rates imposed on imports, which may escalate global trade tensions.


As for other precious metals, silver remained at $36.84 per ounce, while platinum rose by 1.4% to reach $1386.16, and palladium fell by 0.5% to $1141.97.

diana-barakat
Diana Barakat

Share News

Tags

# Top News# Economy# Gold# The world# Economic news

Related News

View All
Economy
Mahmoud KhalafMahmoud Khalaf

Syrian Minister of Economy: Investment Environment Ready to Attract Foreign Investments

Syrian Minister of Economy and Industry, Dr. Mohammad Nidal Al-Shaar, affirmed that the investment environment in Syria has become conducive to receiving both local and foreign investments, thanks to the new investment law that is as flexible and updated as the laws in advanced countries.

World News
Diana BarakatDiana Barakat

Trump Threatens to Impose Tariffs on BRICS Countries and Describes Them as a "Fading Group"

In new statements, US President Donald Trump threatened to impose additional tariffs on the countries that are members of the BRICS group, considering this group "will quickly collapse" if it tries to form an influential entity on the global stage.

Economy
Diana BarakatDiana Barakat

Gold Rises on Weak Dollar and Geopolitical Instability

Gold prices closed higher on Friday, July 18, recording slight gains due to the decline of the US dollar and the escalation of economic and geopolitical uncertainty, which supported demand for the yellow metal as a safe haven.

Economy
Mahmoud KhalafMahmoud Khalaf

American Companies Prepare Plan for Oil, Gas, and Energy Sector in Syria

The CEO of Argen Gas Company, Jonathan Bass, stated today that Baker Hughes, Hunt Energy, and Argen, all based in America, are preparing a major plan for the oil, gas, and energy sector in Syria.

Latest News

View All
Syria News
Lubna NissaniLubna Nissani

Al-Shaibani meets with the High Commissioner for Refugees of the United Nations

Al-Shaibani meets with the High Commissioner for Refugees of the United Nations

Syria News
Diana BarakatDiana Barakat

Restart of Oil Pipeline Between Homs and Hama After 14-Year Shutdown

Homs Fuel Company announced today, Tuesday, June 17, the restart of the 6-inch petroleum products pipeline connecting the warehouses of Homs and Hama after a 14-year shutdown, with a transport capacity of 2600 cubic meters per day.

Politics
Lubna NissaniLubna Nissani

Berri: Meeting with Tom Barrack was "good and constructive"

Following the meeting with the American envoy Tom Barrack, Lebanese Parliament Speaker Nabih Berri described it as "good and constructive".

Syria News
Lubna NissaniLubna Nissani

Arab Parliament Condemns Israeli Escalation on Syrian and Lebanese Territories

Arab Parliament Condemns Israeli Escalation on Syrian and Lebanese Territories

World News
Lubna NissaniLubna Nissani

Phone Call Between Bin Zayed and Bazargan to Discuss Bilateral Relations

Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, and Iranian President Masoud Bazargan discussed bilateral relations between the two countries and ways to enhance them during a phone call on Tuesday, contributing to achieving their common interests and bringing goodness and prosperity to their people.