Gold Daily | Gold Prices Surge Amid Weaker Dollar, Trade Tensions, and Rate Cut Expectations

Generado por agente de IAAinvest Market Brief
miércoles, 9 de abril de 2025, 8:01 am ET1 min de lectura
【Latest Gold Price and Recent Trends】

Gold prices surged 2.1% to $3,046, supported by a weaker dollar and expectations of U.S. interest rate cuts. Recent volatility reflects investor moves to safe havens amid recession alarms and trade tensions.

【Technical Analysis】

Analyst Haresh Menghani highlights technical buying as gold prices overcame resistance at $3,022-$3,023, indicating further upward momentum. Key support lies at $2,957-$2,956, while resistance is at $3,055-$3,056.

【Market Sentiment and Economic Background】

The enactment of President Trump's tariffs has heightened global trade war fears, driving investors to gold as a safe haven. A weaker dollar and the possibility of U.S. rate cuts contribute to gold's appeal. Meanwhile, China's yuan devaluation positions gold as a hedge against inflation.

【Analyst Opinions】

Giovanni Staunovo from UBSUBS-- sees trade war concerns as positive for gold, anticipating Fed rate cuts this year. Deutsche BankDB-- raised its gold forecast to $3,350, citing central bank demand and de-dollarization trends. Goldman SachsGIND-- views recent gold price dips as buying opportunities, maintaining a year-end target of $3,300. Investors are closely monitoring the upcoming Federal Reserve meeting minutes for signs of future rate cuts. Despite recent fluctuations, the structural bull market for gold continues, fueled by economic uncertainties and trade tensions.

Comentarios



Add a public comment...
Sin comentarios

Aún no hay comentarios