Gold Daily | Prices Hit Record High Amid Central Bank Buys, Fed Rate Cut Speculation Boosts Demand

【Latest Gold Price and Recent Trends】

Gold prices have reached an all-time high, hovering around $2,570. Despite weak traditional drivers like inflation-linked bonds, central bank purchases and geopolitical risks boost demand.

【Technical Analysis】

Gold is slightly below key resistance levels. A support level at $2,532 aligns with a 50% Fibonacci retracement. Breaking below could target $2,482. If prices hold above $2,560, momentum may push towards $2,590.

【Market Sentiment and Economic Background】

The Fed's potential rate cut influences market dynamics. A dovish expectation of a 50 basis point cut supports gold. Strong U.S. retail sales and geopolitical tensions, especially involving Lebanon, impact prices.

【Analyst Opinions】

Analysts note divided opinions on the Fed's rate cut magnitude. A 25 basis point cut might pressure gold, while a 50 basis point cut could renew bullish momentum. Long-term forecasts suggest potential targets of $2,826 to $4,406, despite short-term volatility risks.