Gold Prices Ease as Dollar Recovers Amid Cautious Fed Outlook
Gold prices eased on Friday as the dollar recovered amid a cautious Federal Reserve outlook and Trump policy expectations. The precious metal’s price decline was also influenced by a stronger dollar, which made gold more expensive for holders of other currencies.
Key Drivers of Gold Prices
The cautious Fed outlook and Trump policy expectations have increased uncertainty over gold demand, leading to a decline in gold prices. Additionally, a stronger dollar has weighed on gold prices, making it less appealing to investors.
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Key Market Data
- Gold prices fell 1% to $1,830.50/oz
- Global gold demand decreased by 2% year-over-year
- US gold imports fell by 5% year-over-year
Market Outlook
The current market sentiment is bearish for gold, with investors expecting further price decreases amid ongoing dollar strength.
Technical Analysis
- Support levels: $1,820, $1,810
- Resistance levels: $1,840, $1,850
Trading Strategies
Investors should track dollar fluctuations and Fed policy decisions and adjust their trading strategies accordingly.
