Gold Daily | Gold Prices Rebound Amid Declining U.S. Yields and Geopolitical Uncertainty

【Latest Gold Price and Recent Trends】

Gold prices rebounded to $3348.59 after hitting a two-week low due to declining U.S. Treasury yields and geopolitical uncertainties. Investors are focused on upcoming talks between U.S. President Trump and Ukraine’s President Zelensky regarding a peace agreement with Russia.

【Technical Analysis】

Gold's short-term outlook remains neutral. Key support resides between $3305-$3285, with resistance at $3355-$3360. A breakthrough above this resistance could target $3400, while a fall below support might test $3200.

【Market Sentiment and Economic Background】

Recently, U.S. inflation data has impacted the gold market, with July’s PPI showing unexpected increases, tempering expectations for significant Fed rate cuts in September. Consumer sentiment has seen mixed results, with retail sales stable but consumer confidence declining. Geopolitical issues, such as the Trump-Putin meeting, could influence gold demand, while the Fed's upcoming meeting minutes and Powell's speech at the Jackson Hole symposium are anticipated to guide market expectations.

【Analyst Opinions】

Analysts note that gold’s role as a safe haven persists amidst geopolitical tensions and economic uncertainties. The potential for further rate cuts by the Fed may support gold prices. However, positive geopolitical developments could reduce demand for gold as a risk hedge. Overall, gold's outlook depends on economic indicators and geopolitical developments in the near term.