Gold prices have stabilized after hitting record levels, though short-term outlooks remain bullish largely due to escalating trade tensions. President Trump’s proposed tariffs on Mexico and Canada, along with a review of copper tariffs, have driven a risk-off mood, which boosts demand for gold as a safe asset. Market participants are wary of retaliatory actions from China, Europe, and Canada, which could undermine global economic growth. The upcoming GDP and consumer spending data will be critical, as weak results may support gold prices, while strong outcomes could lead to selling pressure.
Gold prices have stabilized after hitting record highs, with ongoing trade tensions maintaining a bullish short-term outlook despite geopolitical uncertainties.
Trump's tariff plans spark risk-off sentiment, heightening the demand for gold as a safe haven amidst global economic concerns.
Potential retaliatory measures from other countries may dampen economic growth, leading to a possible dovish Federal Reserve stance that favors gold.
Investors are advised to watch GDP growth and consumer expenditure data closely, as their outcomes could significantly influence gold market dynamics.
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