Gold Daily | Gold Retreats Amid Strong U.S. Labor Data and Eased U.S.-China Trade Tensions

【Latest Gold Price and Recent Trends】

Gold prices have recently retreated to approximately $3293 per ounce after reaching new highs in 2025, influenced by strong U.S. labor market data. The recent U.S.-China call eased trade tensions, affecting gold's decline.

【Technical Analysis】

Gold is trading in a downward channel, with its price falling below the 100-hour moving average, nearing oversold levels on the 14-hour RSI. Short-term bearish targets are set at $3279 and $3247, while bulls aim for $3336 and $3367. On the daily chart, gold trades in an upward channel, with long-term bearish targets at $3214 and $3121, and bullish targets at $3401 and $3501.

【Market Sentiment and Economic Background】

The strong U.S. labor market, with 139,000 new jobs in May surpassing expectations, has influenced gold's decline. The recent U.S.-China call has sparked hopes for improved relations, increasing market risk appetite and reducing gold's appeal as a safe haven. However, geopolitical uncertainties still underpin potential bullish scenarios.

【Analyst Opinions】

AI models predict gold prices between $3210 and $3440 per ounce by June 30, with various scenarios based on inflation pressures, geopolitical instability, central bank purchases, profit-taking, interest rates, and dollar strength. Despite a brief decline, gold has the potential to test historical highs near $3500, influenced by broader geopolitical and economic factors.