Gold Daily | Gold Surpasses $3,350 Amid Tariff Threats and Safe-Haven Demand Trends

【Latest Gold Price and Recent Trends】

International gold prices surged over 1% on Friday, surpassing the $3,350/ounce mark. This strong performance was fueled by heightened global risk aversion following President Trump's tariff threats. Gold spot price rose 0.94% to $3,355.17/ounce.

【Technical Analysis】

Gold continues to gain support near its major ascending trend line, bouncing back. Bulls aim for the $3,438 resistance, while bears await a breakout for potential selling. In the short term, the market is supported by a minor ascending trend line, with bulls targeting new highs.

【Market Sentiment and Economic Background】

The increased demand for safe-haven assets, such as gold, is driven by Trump's tariff announcements, which include a 35% levy on Canadian imports and a broader threat to other partners. This has spurred risk aversion and bolstered precious metals. Analysts anticipate gold will maintain its upward trend amid ongoing Fed easing and declining real yields, although hawkish rate expectations could prompt short-term adjustments.

【Analyst Opinions】

State Street's Aakash Doshi highlights that Trump's new tariff plans add uncertainty, reinforcing gold’s appeal as a safe haven. Analysts from ANZ and Saxo Bank also emphasize the role of trade tensions and Fed policy in driving gold demand as investors look for security amid economic uncertainty. Carlo Alberto De Casa notes gold's appeal as a buy-on-dip opportunity, given the backdrop of stock market highs and investor caution.