Gold Daily | Gold Prices Surge 38% Amid Inflation, Debt Concerns, and Geopolitical Tensions

【Latest Gold Price and Recent Trends】

Gold prices have surged 38% this year, driven by rising inflation, unsustainable U.S. debt levels, and geopolitical tensions. Recently, spot gold traded around $3,684 per ounce, maintaining a high range after the Fed's rate cut.

【Technical Analysis】

Gold prices are showing a correction from overbought conditions. If gold drops below $3,626, a further decline is likely. Despite recent declines, gold remains above all moving averages, indicating a prevailing bullish trend. Key support is at $3,626, with resistance at $3,675.

【Market Sentiment and Economic Background】

Gold's rise is fueled by strong Asian demand, especially from China and India, while U.S. tariffs on Swiss gold have altered trade flows. The Fed's cautious rate cut has impacted gold's appeal compared to low-yielding alternatives, amidst ongoing geopolitical uncertainties.

【Analyst Opinions】

Analysts hold mixed views post-Fed rate cut. Some see potential for gold to test $3,750-$3,800 per ounce if inflation surprises or geopolitical issues arise. Others anticipate a period of consolidation around $3,600-$3,700. Longer-term, gold could reach $4,000 per ounce as central banks diversify away from the dollar.