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Gold Daily | Gold Hits $2,810 Amid Tariff Uncertainty and Fed Rate Cut Expectations

Market BriefSaturday, Feb 1, 2025 7:00 am ET
1min read
【Latest Gold Price and Recent Trends】

International gold prices reached a new high, exceeding $2,810 due to heightened market uncertainties and President Trump's tariff threats. Gold rose 0.61% to $2,810.71 per ounce.

【Technical Analysis】

The upward trend in gold persists, with potential targets of $2,850 to $3,000 if momentum continues. Key support levels are at $2,773-$2,772, with further support at $2,740-$2,725.

【Market Sentiment and Economic Background】

Uncertainty surrounding U.S. tariffs on Canada, Mexico, and potentially China is driving safe-haven demand for gold. The U.S. economy showed weaker-than-expected growth, reinforcing the market's expectation for a Fed rate cut in March. The Fed held rates steady, focusing on inflation and employment data. The market awaits the core Personal Consumption Expenditure (PCE) index, a key inflation indicator, which will influence future policy.

【Analyst Opinions】

Analysts highlight that geopolitical tensions and tariff uncertainties are bolstering gold’s appeal as a safe haven. Some expect gold to reach $3,000 if inflation expectations rise or if the Fed signals policy changes. European markets note a significant gold influx into the U.S. due to potential tariffs, impacting liquidity in London. The ongoing market dynamics align with historical patterns observed during the pandemic.
Comments

Post
Sjgreen
02/01
Gold just keeps climbing, huh? Tariffs and rate cuts creating the perfect storm for gold bugs. 📈
0
MonstarGaming
02/01
Tariffs = gold pump? Not bad for traders
0
ghostboo77
02/01
Geopolitical sauce is making gold juicy.
0
HobbyLegend
02/01
@ghostboo77 Tariffs are the secret ingredient, making gold go brrr.
0
CardiologistEasy4031
02/01
Fed's on hold, but inflation data might change the game. Keep an eye on those PCE numbers.
0
rltrdc
02/01
Fed rate cut vibes are real, stacking gold
0
1kczulrahyebb
02/01
Gold to the moon or what, folks? 🚀
0
Serious_Procedure_19
02/01
Holding $GLD, riding this tariff wave.
0
AIONisMINE
02/01
Gold just keeps climbing, doesn't it? Fed rate cuts and tariffs are like a golden ticket for bullion.
0
rvnmsn
02/01
@AIONisMINE True, gold's on fire.
0
GarlicBreadDatabase
02/01
@AIONisMINE Rate cuts boosting gold, right?
0
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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