Core Viewpoint - Gold prices have been on the rise for three consecutive days, with expectations for a weekly gain, driven by renewed trade war concerns following President Trump's announcement of new tariffs [1][2][3]. Group 1: Market Dynamics - Gold prices are experiencing upward momentum, with traders closely monitoring trade developments amid a quiet U.S. economic calendar [2]. - Safe-haven investments have resurfaced in the Asian trading session due to President Trump's tariff statements, leading to a cautious market sentiment [3]. - Trump's threats to impose a 35% tariff on goods imported from Canada, effective August 1, have dampened optimism regarding trade negotiations between Washington and Europe [4]. Group 2: Investor Sentiment - The instability of Trump's trade policies has weakened investor confidence, reigniting demand for both the U.S. dollar and gold as safe-haven assets [5]. - Despite the dollar's rebound, gold buyers remain undeterred, with anxiety surrounding the upcoming U.S. Consumer Price Index (CPI) data, which may provide insights into the Federal Reserve's interest rate decisions [5]. Group 3: Technical Analysis - Gold prices are rebounding from the 38.2% Fibonacci retracement level of $3,297, reclaiming the 50-day simple moving average (SMA) at $3,325 [9]. - The 14-day Relative Strength Index (RSI) has surpassed the midline, currently near 50.50, indicating a positive shift in market sentiment towards precious metals [10]. - A daily close above the 50-day SMA at $3,323 is necessary for buyers to challenge the 21-day SMA at $3,344, with potential resistance at the 23.6% Fibonacci retracement level of $3,377 [11].

Core Viewpoint - Gold prices are rebounding, driven by concerns over trade tensions and a decline in U.S. Treasury yields, following recent tariff announcements by President Trump [1][2][3][5]. Group 1: Market Dynamics - Gold prices have rebounded from a weekly low of $3283, supported by the weakening U.S. dollar and declining Treasury yields [3][5]. - The U.S. Treasury yields have decreased due to renewed economic growth concerns and strong demand for $39 billion in 10-year bonds [6]. - President Trump announced new tariffs on various goods, including a 20% tariff on products from the Philippines and 50% on copper imports, effective August 1 [6][7]. Group 2: Technical Analysis - Gold prices successfully recovered the key 38.2% Fibonacci retracement level of $3297, despite briefly testing below this level [12]. - The Relative Strength Index (RSI) is currently near 48.50, indicating a lack of bullish confidence [12]. - A sustained breakthrough above the 50-day Simple Moving Average (SMA) resistance at $3323 is necessary for a meaningful rebound towards the 21-day SMA at $3346 [13]. Group 3: Future Outlook - The focus is on Trump's tariff negotiations, upcoming U.S. economic data releases, and speeches from Federal Reserve policymakers for new trading signals for gold prices [9]. - Continued weakness in the dollar and low Treasury yields may provide ongoing support for non-yielding gold prices [9]. - If gold prices are rejected at the 50-day SMA, increased selling pressure could lead to a test of the 38.2% Fibonacci support level at $3297 [14].

Economic Data and Events - Investors should closely monitor key economic data and events this week, including speeches from Federal Reserve officials, ISM manufacturing data, ADP employment report, and non-farm payroll data, as these will provide insights into the Fed's monetary policy path and influence gold prices [1] Gold Market Analysis - The international gold market experienced a downward trend last week due to a rapid decline in risk aversion, breaking below the critical level of 3300, resulting in a small bearish candle [1] - The weekly chart indicates that gold has fallen below the MA10 support, with the MACD indicator forming a death cross at high levels, suggesting potential further decline towards the MA20 [1] - The daily chart shows that bullish momentum has halted, with the moving averages in a tight range, and although the MACD has formed a death cross, it is near the zero line, indicating limited downside potential before a breakout [1] - Short-term trading strategy for gold suggests focusing on buying on dips around 3290, with a stop loss at 3282 and a target of 3320-3340 [1] Silver Market Analysis - The daily chart for silver shows a small candlestick with a notably low wick, resembling a potential doji pattern, indicating market indecision between buyers and sellers [3] - The support level at 35.12, corresponding to the 23.6% Fibonacci retracement from April to June, provides a solid technical base, while resistance above may limit short-term gains [3] - Domestic silver futures are trading above 8765, with a slight increase of 0.09%, indicating a bullish short-term outlook [4]

Core Viewpoint - The article discusses the recent rebound in spot gold prices after a period of decline, raising questions about the potential for further upward movement in the market [1] Group 1 - Spot gold has shown signs of recovery after a decline, indicating a potential for upward movement [1] - The strongest support level for the 15-minute timeframe is identified at 3308, which coincides with Fibonacci retracement levels, pivot points, and moving averages [1]

Group 1 - The international gold price experienced fluctuations, opening at $3285.91 per ounce, reaching a high of $3294.46, a low of $3245.29, and closing at $3268.49, reflecting a decline of 0.56% [1] Group 2 - The Dutch International Group analyst Karsten Brzeski reported a worsening labor market in Germany, with an increase of 34,000 unemployed in May, maintaining an unemployment rate of 6.3%. The number of unemployed has risen from approximately 2.2 million in May 2022 to nearly 3 million [3] - The analyst noted that the growth in employment is attributed to immigration, but this is insufficient to counteract weak private consumption, as many new jobs are part-time and low-paying. However, there are initial signs of labor market stabilization, with improved hiring plans in both industrial and service sectors [3] - Analysts from BNP Paribas indicated that if the money market excludes expectations of Federal Reserve rate cuts this year, the yield on two-year U.S. Treasury bonds is expected to rise in the coming months, with projections of 4.10% in Q3 and a decline to 4.00% in Q4 [3] Group 3 - Technically, gold prices have broken below the short-term upward trend line and the 200-period moving average on the 4-hour chart, indicating a bearish short-term trend. A drop below the key support level of $3245 could lead to further declines towards $3215, $3200, and $3180 [4] - The daily chart shows that gold has closed lower for four consecutive days, effectively breaking below the lower boundary of the short-term upward channel and operating below the 5-day and 10-day moving averages, indicating weakened short-term momentum [4] - The MACD indicator shows a bearish crossover, with increasing green bars confirming the bearish signal. The $3245 level is a previous support zone, and if breached, it may test the 61.8% Fibonacci retracement level at $3215, potentially approaching the psychological level of $3200 [4]

Group 1 - Gold prices experienced a slight increase, supported by a weaker dollar and poor U.S. economic data, alongside safe-haven buying due to President Putin's absence from peace talks [1][2] - Spot gold rose by 1.18% to $3215.87 per ounce, while U.S. gold futures increased by 0.91% to $3217.4 per ounce [1] - The U.S. dollar index fell by 0.17%, making gold cheaper for overseas holders [2] Group 2 - U.S. April PPI year-on-year recorded a decline to 2.4%, marking the third consecutive month of decrease and the lowest since September of the previous year [2] - April PPI month-on-month recorded a drop of 0.5%, the lowest since April 2020, significantly below the market expectation of 0.2% [2] - Analysts suggest that the recent data creates more room for potential interest rate cuts by the Federal Reserve, with increasing market expectations for looser monetary policy [2] Group 3 - Analysts noted that despite a temporary 90-day tariff agreement between China and the U.S., investors remain cautious due to ongoing global trade tensions [2] - The absence of President Putin from peace negotiations has lowered expectations for progress on a peace agreement, contributing to the support for gold prices [2][3] - Gold's recent weakness has been linked to a shift in risk appetite, but the market's reaction to geopolitical events suggests a complex relationship between gold and equity markets [3]

Group 1 - The Canadian retail sales in February decreased for the second consecutive month, primarily due to weak sales from automotive and parts dealers [1] - Seasonally adjusted retail sales in February fell by 0.4% compared to the previous month, amounting to 69.33 billion CAD (approximately 50.03 billion USD) [1] - In comparison to the same month last year, retail sales in February increased by 4.7% [1] Group 2 - The USD/CAD exchange rate is currently hovering around the support level of 1.3810, which has been established since November 6 of the previous year [2] - A significant rebound in the exchange rate would require breaking above the neutral range of 1.3950 and surpassing the 20-day exponential moving average [2] - If the exchange rate falls below the support trend line around 1.3790, it may lead to accelerated selling pressure targeting the 1.3620 support area [2]