Trump wins big: 'Big Beautiful' bill passes, gold falls sharply

Date posted:

Updated date: 08/28/2025
Trump wins big: 'Big Beautiful' bill passes, gold falls sharply - 1

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The 'Big Beautiful' Bill was officially passed by the US House of Representatives

Early morning of July 4 (Vietnam time), the US House of Representatives officially passed the large-scale tax cut and spending increase bill proposed by President Trump - also known as Big and Beautiful Bill.

  • The bill passed 218–214, with all Democrats opposing it and two Republicans “turning the tables.”
  • Content: tax cuts for businesses and individuals, and increased spending on infrastructure and defense.

👉 IMF warns: The bill could worsen the budget deficit and public debt. The US Congressional Budget Office forecasts an increase in public debt of $3.3-4 trillion.
👉 Fitch forecasts: US Debt/GDP could hit 120% by 2026.

US House of Representatives Passes President Trump's "Big, Beautiful Bill"

Mixed reactions from US politicians

  • Biden: criticized the bill as “reckless and cruel,” hurting low-income people, cutting healthcare, food for veterans and the elderly.
  • Kamala Harris: called the bill “pushing people off health care.”

Nonfarm payroll data weaker than expected – gold drops in shock

  • The US private non-farm payroll released on July 3 only reached 74K, lower than the forecast of 105K and down sharply from the previous period of 137K.
  • However, lower-than-expected unemployment and modest wage gains kept Fed expectations July rate cut overshadowed.

👉 Consequences:

  • Gold down nearly 1% to $3,325/oz.
  • USD and bond yields increased again, putting pressure on precious metals.

Other international news

  • US – Vietnam reached a reciprocal trade framework agreement. Trump pledged to reduce tariffs on Vietnamese goods, in return Vietnam would open its doors more to US goods.
  • Israel airstrikes southern Lebanon, regional tensions have not cooled down.
  • Chosen criticized the US for taking advantage of the Quadrilateral Security Dialogue, continuing tensions on the peninsula.
  • Trump – Saudi Israel-Saudi Arabia peace talks.
  • Trump declared: will allow migrant workers to stay if sponsored by farmers – a surprise move amid immigration restrictions.

Suggested investment strategy:

  • Yellow: Be cautious in the $3,300 – $3,350/oz range. Watch inflation and Fed news.
  • USD: Possible short-term increase. Potential USD/JPY, USD/VND pairs.
  • Stock: Prioritize consumer stocks – infrastructure benefits from public spending.

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