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Market Analysis for Today
Abstract：Gold prices consolidated their position near $2,910, after a 1.3% decline the previous day, amid traders concerns over U.S. consumer confidence data and additional tariff threats from President Trumps
Gold prices consolidated their position near $2,910, after a 1.3% decline the previous day, amid traders' concerns over U.S. consumer confidence data and additional tariff threats from President Trump's administration. Meanwhile, U.S. yields tumbled sharply, with markets anticipating a 25-basis-point rate cut by the Federal Reserve in June. This supported precious metals, and prices should start to bottom out from here.
Gold opened at 2916 and has risen to a high of near 2921 and fallen to a low of around 2915 as of press time. Resistance levels to watch are 2940-2950-2960; if these are not breached, the metal will test support levels at 2900-2890-2880.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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