Gold Daily | Gold Slips 0.5% on Dollar Rebound, Long-Term Bullish Trend Supported by Fed Rate Cut Expectations

【Latest Gold Price and Recent Trends】

Gold dropped 0.5% to $3,671.61 following record highs as the dollar slightly rebounded and investors took profits. Despite this, gold is up about 0.6% this week and over 6% this month.

【Technical Analysis】

Gold's short-term momentum is waning, reflected by the RSI dropping from 80 to 77. If the Federal Reserve's tone is dovish, gold could retest its record high of $3,703; otherwise, it may face significant selling pressure. Support levels lie around $3,627 and $3,600.

【Market Sentiment and Economic Background】

The Federal Reserve is expected to cut rates by 25 basis points. Investors are paying close attention to Chairman Powell’s statements for future monetary policy clues. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold. President Trump has been pushing for more aggressive rate cuts. Continued geopolitical tensions and strong central bank gold purchases support the bullish trend.

【Analyst Opinions】

Experts predict the strong gold rally will persist throughout the year, with a potential correction before hitting $4,000 by 2026. Analysts highlight expectations of Fed easing, geopolitical risks, and robust demand as key drivers. Despite potential short-term corrections, the long-term bull market remains intact.