Gold Daily | Gold Rebounds Amid Weaker Dollar, Tariff Concerns, and Ukraine Tensions

【Latest Gold Price and Recent Trends】

The international gold price rose slightly to approximately $2,870 per ounce, supported by a weaker dollar and uncertainty around U.S. tariffs. Last week, gold prices dropped over $70, ending an eight-week upward trend. The market is focused on potential tariff impacts and developments in Ukraine.

【Technical Analysis】

Gold is rebounding from a three-week low of $2,833. The focus is on the psychological level of $2,900. The RSI indicates a bullish trend, though the price remains below the 21-day moving average of $2,895, potentially targeting $2,930 if momentum continues. Support levels are seen at $2,850 and $2,835, with a critical support at $2,800.

【Market Sentiment and Economic Background】

Gold demand has surged due to concerns over U.S. tariffs on Canadian and Mexican imports, slated to take effect on March 4. Additionally, geopolitical tensions from the delayed Ukraine peace talks are boosting safe-haven demand. The dollar index has weakened, supporting gold prices, while improved market sentiment has reduced U.S. Treasury demand, affecting non-yielding assets like gold.

【Analyst Opinions】

Analysts suggest that gold will continue to attract safe-haven demand amid tariff concerns and geopolitical tensions. Trump's tariffs could provoke market volatility and potential trade retaliation. Despite gold's appeal during geopolitical uncertainty, its attractiveness can diminish in a high-interest-rate environment. Analysts also caution that the technical outlook should be carefully assessed before new bullish bets.