Gold Daily | Spot Gold Dips Amid Fed's Hawkish Stance and Middle East Tensions Boosting Safe-Haven Demand

【Latest Gold Price and Recent Trends】

Gold price slightly decreased to $3,365 due to the Federal Reserve's hawkish rate outlook, with speculation driving platinum to its highest level since September 2014. Current spot gold is at $3,363, down 0.1%, indicating caution amid geopolitical tensions.

【Technical Analysis】

Gold maintains a bullish tendency as the 14-day RSI remains above the midline, around 55. A breakout above $3,377 may signal an upward trend, with resistance at $3,400. Failure to maintain gains could see support at $3,348 and further at $3,308.

【Market Sentiment and Economic Background】

The geopolitical tension in the Middle East, particularly the potential U.S. military involvement in Iran, enhances gold's appeal as a safe haven. However, revived dollar demand poses resistance to gold buying. The Federal Reserve's concerns about rising inflation due to tariffs have influenced market perceptions, viewing its policy decision as somewhat hawkish. Despite expectations of a 50 basis point rate cut this year, the Fed remains cautious, emphasizing inflation risks.

【Analyst Opinions】

Analysts suggest that heightened Middle East tensions may bolster gold's safe-haven allure, though the strengthening dollar adds pressure on gold prices. With the Fed underscoring inflation risks, the possibility of easing interest rates is diminished, weighing on gold. The trade and geopolitical uncertainties complicate economic forecasts, with inflation and GDP projections adjusted accordingly.