Gold Daily | Spot Gold Hits Record High Amid Trade Tensions and Inflation Concerns, Eyes on $3,000

【Latest Gold Price and Recent Trends】

Gold prices have recently reached a record high amid concerns over U.S. President Trump's tariff plans, which could spark inflation and global trade tensions. Spot gold rose 0.7% to $2,953, marking a 12% increase this year.

【Technical Analysis】

On the daily chart, gold is at a historical peak, with buyers eyeing a better risk-reward at $2,790. A major uptrend line on the 4-hour chart underpins bullish momentum, suggesting further highs. A break below this level could trigger selling. The 1-hour chart shows a minor uptrend line, with pullback offering buying opportunities near $2,950.

【Market Sentiment and Economic Background】

Investors are cautious due to tariff headlines and geopolitical worries, causing Asian stock markets to fall and gold to hit new highs. European stocks are expected to open cautiously. Market concerns over Trump's tariff threats are significant, particularly with remarks about Ukraine's President Zelensky. The yen has strengthened due to "risk-aversion" sentiment.

【Analyst Opinions】

KCM's Tim Waterer notes that uncertainty in global trade and inflation supports gold, making the $3,000 level attainable. Global X analyst Trevor Yates highlights strong demand from central banks and ETFs. If peace between Russia and Ukraine is reached, gold demand could weaken. Mehta sees Trump's tariff impacts as a major risk, with potential for gold to rise further if prices close above $2,950. Han Tan of Exinity Group sees potential in silver prices despite possible demand impacts from tariffs.