Gold Daily | Gold Prices Steady Amid Trade Policy Uncertainty and Economic Risks

【Latest Gold Price and Recent Trends】

Gold prices have been slightly fluctuating around $3,010, following a recent dip attributed to uncertainties surrounding U.S. President Donald Trump's trade policies. The gold market remains buoyant due to ongoing geopolitical tensions and economic uncertainties, with a year-to-date increase of 15%.

【Technical Analysis】

On the daily chart, gold has been declining for three consecutive days but remains above key moving averages, suggesting a correction rather than a trend reversal. The 20-day SMA provides dynamic support around $2,949.20. Short-term outlook shows a bearish bias, with potential for further decline if key support levels are breached.

【Market Sentiment and Economic Background】

Investor sentiment has been influenced by Trump's potential tariff policies on imports, creating mixed reactions in the market. The announcement of tariffs, particularly on automotive and energy imports, has caused concern. Despite this, gold continues to attract investors due to its safe-haven appeal amidst economic uncertainties. The demand for gold is buoyed by expectations of lower interest rates, as suggested by recent statements from Federal Reserve officials.

【Analyst Opinions】

Analysts highlight that while gold faces short-term pressure, its long-term prospects remain strong due to persistent global economic risks. The potential for tariff-induced inflation and economic slowdown in the U.S. could further support gold prices. Additionally, investor interest in gold mining companies is rising, with funds seeing significant inflows as gold prices boost company earnings and cash flows.