Gold Daily | Spot Gold Rises Amid Weaker Dollar, Trade Tensions, Eyes Weekly Gain with Rate Cut Speculation

【Latest Gold Price and Recent Trends】

International gold prices have slightly risen, poised for a weekly gain due to a weaker dollar and uncertainty over U.S. tariff plans. Spot gold is up 0.38% to $2,920, marking a weekly increase of over 2%, driven by trade tensions and inflation risks.

【Technical Analysis】

Gold prices are stable near $2,913, with prospects of testing resistance at $2,926-$2,930. If breached, it may retest the February high of $2,956. However, a drop below $2,900 could lead to $2,860-$2,858, with further support at $2,884-$2,883.

【Market Sentiment and Economic Background】

Uncertainty around U.S. tariffs and a weaker dollar support gold's safe-haven appeal. Speculation over Fed rate cuts due to slowing economic data adds to gold's bullish outlook. With the U.S. non-farm payrolls report imminent, expectations are mixed, potentially affecting gold and dollar dynamics.

【Opinions】

Analysts remain optimistic about gold, with ongoing trade tensions and potential rate cuts seen as supportive. There's anticipation that disappointing employment data could boost gold by weakening the dollar. Conversely, strong data might bolster the dollar, pressuring gold prices.