Gold Daily | Gold Rebounds Amid U.S.-China Tensions; Analysts Eye Key Support at $3,167 and Resistance at $3,450

【Latest Gold Price and Recent Trends】

Gold prices rebounded on Thursday to $3,340.79 after a significant drop, driven by bargain hunting amidst U.S.-China trade tensions. Previous declines were due to eased trade war fears and U.S. monetary policy signals.

【Technical Analysis】

Gold's recent bounce suggests a correction from an overbought state. Analysts see potential support at $3,167 and resistance at $3,450. The RSI indicator has fallen back to bullish territory, signaling a possible continuation of the upward trend if gold holds above $3,300, with further support at $3,200.

【Market Sentiment and Economic Background】

Gold's recent volatility was influenced by U.S. President Trump's softened stance on China tariffs and Federal Reserve Chair Powell's position, which reduced market risk aversion. The IMF's downwards revision of global growth forecasts, partly due to U.S. tariffs, has also impacted sentiment. Despite recent fluctuations, gold has been favored as a hedge amid geopolitical tensions and inflation risks.

【Analyst Opinions】

Analysts remain divided on gold's trajectory. While some see the recent pullback as a natural correction in a bull market, others caution about potential further declines due to profit-taking and external economic factors. The long-term outlook remains positive, supported by central bank purchases and geopolitical uncertainties. Investors are advised to watch for key economic indicators and potential shifts in U.S.-China relations for future market guidance.