Gold Outlook: Trade War, Geopolitics Drive Safe-Haven Demand
The gold outlook is bullish, reaching near $4,700 due to geopolitical risks from Greenland, the Middle East, and Russia. Tariff threats and rising risk aversion are driving investors back to gold as a safe haven. The US dollar struggles amid reduced rate cut expectations, while real yields remain low. Upcoming US PCE and GDP data could influence gold's trajectory, with softer data likely extending its upside. Technical indicators show a strong bullish trend, but the market is nearing overbought conditions, suggesting potential pullbacks ahead.
Talkmarkets·