Gold Daily | Gold Steadies at $2,650 Amid Weak Dollar, Fed Uncertainty, and Geopolitical Tensions

【Latest Gold Price and Recent Trends】

Gold prices rose slightly to around $2,650, driven by a weaker dollar and geopolitical tensions. This trend reflects investor focus on U.S. inflation data and Federal Reserve policies, along with geopolitical concerns, supporting gold as a safe haven.

【Technical Analysis】

Gold prices have rebounded to key support levels around $2,600, indicating potential for new highs if they sustain above $2,645. Technical indicators suggest resistance near $2,650, with further targets at $2,678 if broken. Failure to maintain above $2,629 could result in a pullback towards $2,608 and $2,589.

【Market Sentiment and Economic Background】

The dollar's decline, along with Federal Reserve policy uncertainties and geopolitical factors, continues to support gold prices. Investors are eyeing U.S. Personal Consumption Expenditure (PCE) data and GDP figures for further direction. Tensions in the Middle East and Russia-Ukraine conflict add to gold's appeal as a safe haven.

【Analyst Opinions】

Analysts highlight that geopolitical tensions and economic policies under Trump's administration may bolster gold prices. The PCE data and other economic indicators will shape market expectations on Fed rate cuts, influencing both dollar and gold prices. Gold's resilience above critical levels showcases its role as a hedge in uncertain times.