Gold Daily | Gold Prices Decline Amid U.S. Monetary Policy Uncertainty; Key Support at $2,600

【Latest Gold Price and Recent Trends】

Gold prices have experienced a decline after a four-day rise, currently trading around $2,649 per ounce, due to uncertainties surrounding future U.S. monetary policy and recent inflation data.

【Technical Analysis】

Gold prices are testing key levels, with resistance at $2,700 and support near $2,600 per ounce. Analysts suggest potential further declines if prices fall below the 21-day moving average of $2,650. A break above $2,680 could halt the decline and potentially lead to a recovery.

【Market Sentiment and Economic Background】

Investors are focused on the Federal Reserve's upcoming interest rate decision and its implications for 2025 monetary policy, especially with the anticipation of lower borrowing costs supporting non-yielding assets like gold. The market is pricing in a 25 basis point rate cut, but the forward path remains uncertain due to inflation concerns and potential geopolitical risks.

【Analyst Opinions】

Analysts expect gold demand to remain strong as a hedge against equity market risks. Despite recent setbacks, long-term prospects remain optimistic, with potential strategic buying opportunities anticipated in 2025. Economic factors and geopolitical tensions continue to underpin gold's allure, with predictions of price peaks by late 2025 or early 2026.