Gold Daily | Gold Nears Record Highs Amid Stagflation Fears and Central Bank Buying Spree

【Latest Gold Price and Recent Trends】

Gold is trading around $2,860 after hitting a series of record highs, driven by stagflation concerns, trade tensions, and increased central bank purchases. Market uncertainty is fueling demand.

【Technical Analysis】

Gold remains technically poised for further gains despite being overbought, with key support at $2,716 and resistance at $2,933 and $3,084. RSI indicators suggest potential minor pullbacks but no bearish reversals.

【Market Sentiment and Economic Background】

The global demand for gold has reached unprecedented levels amid economic uncertainty, with central banks accelerating purchases due to inflation concerns and geopolitical tensions. The Fed's rate cuts have also bolstered gold investments. Risk aversion continues to drive gold prices as investors seek safe havens against unpredictable U.S. tariff policies.

【Analyst Opinions】

Analysts are optimistic about gold surpassing $3,000 per ounce, driven by structural and cyclical factors. The potential for further U.S. tariffs increases demand for gold as a safety asset. High-profile institutions like Goldman Sachs and Citi have expressed bullish outlooks, citing global trade risks and central bank buying as key factors. The ongoing demand for gold ETFs reflects sustained interest despite broader market volatility.