Gold Daily | Gold Prices Hit Record High Amid Trade Tensions and Inflation Concerns

【Latest Gold Price and Recent Trends】

Gold prices surged over 1% on Monday, reaching a new record high of $2,898.64 amid heightened demand for safe-haven assets following President Trump's latest tariff plans. Spot gold increased by 1.2% to $2,895.38, with US gold futures also up by 1.2% to $2,920.8.

【Technical Analysis】

Gold continued its upward momentum, hitting new highs. On the daily chart, buyers see better risk-reward near $2,790, while sellers target $2,600 after a breach. The 4-hour chart shows momentum strengthening as prices move away from trend lines. A deeper pullback could see buyers setting risks below the trend line for more gains, or sellers strengthening shorts targeting $2,600.

【Market Sentiment and Economic Background】

Trump's announcement of a 25% tariff on all imported steel and aluminum stoked fears of a global trade war, bolstering gold's appeal amid rising inflation expectations and falling real yields. The geopolitical tensions and trade uncertainties have positioned gold favorably, with market participants anticipating a $3,000 target this year.

【Analyst Opinions】

Analysts believe that Trump's new tariff plan heightens inflation and growth concerns, driving gold prices higher. UBS analyst Giovanni Staunovo anticipates further gains with a $3,000 target price. Meanwhile, ANZ senior strategist Daniel Hynes pointed out that gold might be caught in retaliatory tariff turmoil, causing physical market chaos. OANDA's Kelvin Wong suggests gold may not see a major pullback unless the dollar strengthens significantly.