The US dollar remained stable against large currencies on Wednesday, while the Yen got strength when traders weighed geopolitical risks. Conversations about a potential Ukraine-stakes-fires and Trump rate announcements have been added to market uncertainty, so that some investors switch to traditional safe-haven activa.
Forex analysts note that the market remains careful about Trump’s tariff plans, where traders are awaiting further clarity about possible trade disruptions. However, the constant threat of rates and geopolitical instability holds gold well supported.
Gold prices forecast: Pullback probably before the next leg is higher
While gold remains in a sturdy uptrend, a short -term correction is possible if the sales pressure increases. A decrease under $ 2,864.33 would indicate a small trend shift, but a strong dip-buying interest could limit the downward risks.
Fundamentally, the Bullish Case of Gold remains intact. Continuous buying of the central bank, persistent inflation problems and continuous geopolitical tensions all support higher prices. If the demand for safe haven continues, gold could test the psychological level of $ 3,000 in the near future. Traders must keep a close eye on FED commentary and economic data for further catalysts.
More information in our economic calendar.