Gold Daily | Gold Holds Strong Amid Trade War Tensions, Analysts Predict $3,000 Breakthrough

【Latest Gold Price and Recent Trends】

International gold prices have cooled after reaching a record high of $2,942, now hovering around $2,910 as investors assess trade war risks following recent U.S. tariff hikes by President Trump. Gold prices, up 11% this year, are driven by tariff-induced inflation fears and geopolitical uncertainties.

【Technical Analysis】

Gold prices recently hit an all-time high of $2,942 before falling back but remain elevated. Analysts note that Trump's tariffs and geopolitical risks have bolstered gold as a safe haven. Technically, gold remains strong, with any dips seen as buying opportunities, and it is expected to potentially reach $3,000 soon.

【Market Sentiment and Economic Background】

The escalation in tariffs has fueled fears of a trade war and inflation, increasing demand for gold. Trump's 25% tariff on steel and aluminum, with no exemptions, has intensified trade tensions. Investors are watching for inflation indicators such as the U.S. CPI and PPI to gauge further impacts on economic growth and Fed policy.

【Analyst Opinions】

Analysts are bullish on gold's outlook, with Citibank raising its target price to $3,300, citing strong demand driven by trade policies and central bank purchases. Gold is seen as a hedge against inflation and geopolitical instability. Analysts expect it to break $3,000, supported by increased physical demand and central bank diversification away from the dollar.