Gold Daily | Gold Stabilizes at $2,645 Amid U.S. Inflation Concerns and Fed Rate Speculation

【Latest Gold Price and Recent Trends】

As of the latest, gold prices have stabilized around $2,645. Following a sharp decline earlier this week, the market is assessing persistent U.S. inflation data. The cautious stance of the Federal Reserve regarding further rate cuts and the stabilization of the Korean won are key influences on gold's performance.

【Technical Analysis】

Gold is oscillating around crucial technical levels. Immediate resistance is noted at $2,651, while support remains firm at $2,608. A break beyond these levels could signal significant price movements. Analysts highlight the pivotal role of $2,629 in dictating near-term market direction. The presence of bearish indicators on daily charts suggests potential further downside, but long-term trends remain intact.

【Market Sentiment and Economic Background】

Recent U.S. economic data reflects robust consumer spending and mixed inflation signals, influencing market expectations of Federal Reserve policy. The geopolitical climate, including tensions involving the U.S., Mexico, and the ongoing Russia-Ukraine conflict, adds layers of uncertainty. Trade war fears may bolster gold's safe-haven appeal despite dollar strength posing resistance. Expectations for potential rate cuts in December linger, although they have seen some adjustments amid economic resilience.

【Analyst Opinions】

Analysts are divided on short-term prospects for gold. While some foresee continued pressure due to anticipated higher interest rates and dollar strength under new U.S. policies, others remain bullish on gold's long-term trajectory, targeting $3,000 by 2025. The persistence of structural demand from central banks and strategic investors underpins this optimism. Despite short-term obstacles, the broader economic and geopolitical landscape could sustain gold's appeal as a hedge against uncertainty.