Gold Daily | Gold Stabilizes Near $2,915 Amid Trade Tensions and Bullish Market Outlook

【Latest Gold Price and Recent Trends】

Gold prices have stabilized near $2,915 after recent gains due to a weaker dollar and trade uncertainties. Concerns over U.S. tariffs on Mexico, Canada, and China continue to drive safe-haven demand, although rising U.S. bond yields may limit gold's appeal.

【Technical Analysis】

Gold is defending the $2,900 level, with a bullish outlook on daily charts. A close above $2,930 could reignite an uptrend, with key resistance at historical highs of $2,956 and $2,970. Support stands at the 21-day SMA of $2,903.

【Market Sentiment and Economic Background】

Markets are focused on U.S. tariffs and potential agreements with Mexico and Canada. Trade tensions, inflation concerns, and economic slowdowns are supporting gold demand. The ADP employment report and upcoming non-farm payroll data are awaited for further clues.

【Analyst Opinions】

Analysts expect gold to continue to be favored amid ongoing trade uncertainties. Despite potential tariff compromises, the overall economic instability and potential early Fed rate cuts could further boost gold prices. UBS and JPMorgan maintain a bullish outlook, with potential for gold to reach $3,000 by 2025 due to geopolitical and economic factors.