Gold prices rose above $3,370 per ounce on Monday, marking a second straight session of gains, helped by a weaker US dollar as investors await further tariff developments. US Commerce Secretary Howard Lutnick voiced confidence in reaching a deal with the EU but emphasized that August 1 is a "hard deadline" for tariffs to take effect. He also stressed that the 10% baseline tariff rate is “definitely going to stay” amid negotiations. These comments follow Trump’s recent letters to trading partners earlier this month, notifying them of new tariff rates their countries will face if they fail to reach a deal with him. Meanwhile, Fed Governor Christopher Waller last week reiterated his call for a rate cut later this month, despite data showing ongoing resilience in the US economy and other officials pushing to keep rates steady. Investors now await upcoming remarks from Fed Chair Jerome Powell and Governor Michelle Bowman, seeking clearer signals on the central bank's policy outlook.