Gold Daily | Gold Prices Near Record High Amid Trade Policy Uncertainty and Dollar Weakness

【Latest Gold Price and Recent Trends】

Gold prices have surged past $2,760, nearing last year’s record high, amid uncertainties surrounding U.S. President Trump's trade policies and a weakening dollar. Spot gold rose 0.6% to around $2,760, while U.S. gold futures increased by 0.45% to $2,775.

【Technical Analysis】

Gold has maintained a bullish technical outlook, with a target of testing historical highs around $2,790. The daily chart shows gold remains above key moving averages, supporting further upward momentum. The price is currently aiming for a potential test of the $2,785 target within a symmetrical triangle pattern. The 14-day RSI above 50% suggests continued interest from buyers.

【Market Sentiment and Economic Background】

Uncertainty from Trump’s tariff threats against Canada and Mexico has heightened demand for gold as a safe-haven asset. Lower U.S. inflation data has weakened the dollar, further supporting gold. The Federal Reserve's upcoming meeting is closely watched, with expectations that interest rates will remain unchanged. Economic and geopolitical uncertainties, such as potential tariffs and Middle East tensions, are underpinning the demand for gold.

【Analyst Opinions】

Analysts suggest that the uncertainty surrounding Trump's trade policies is a major catalyst for the recent gold price surge. If the Federal Reserve maintains higher interest rates due to inflationary pressures, this could impact gold's appeal. Analysts also emphasize that central bank gold purchases provide a solid foundation for demand. Despite potential obstacles, the current bullish trend is supported by technical indicators and macroeconomic factors.