GOLD PRICE FORECAST: XAU/USD HOLDS BELOW $3,350 ON FIRMER US DOLLAR, EASING US-CHINA TRADE TENSIONS
GOLD PRICE FORECAST: XAU/USD HOLDS BELOW $3,350 ON FIRMER US DOLLAR, EASING US-CHINA TRADE TENSIONS
Gold prices (XAU/USD) experienced a decline on Tuesday, April 29, 2025, trading around $3,335 per ounce during the early Asian session.
This drop is attributed to a modest rebound in the US Dollar and a softening in US-China trade tensions.
Spot gold prices fell 0.4% to $3,329.12 per ounce, while US gold futures slipped 0.2% to $3,342.40.
This decline follows a brief surge to over $3,500 per ounce earlier this month, driven by concerns over President Trump's tariffs and their impact on the US economy.
Optimism surrounding trade agreements and positive rhetoric between the US and China contributed to an improved risk environment.
US Treasury Secretary Scott Bessent noted progress in negotiations, with China exempting some US goods from tariffs and the US planning to ease automotive tariffs.
Investors are now focusing on upcoming US economic data, including job openings, personal consumption expenditures, and non-farm payrolls reports, to gauge the Federal Reserve’s next policy steps.
These data releases are expected to provide insights into the strength of the US economy and potential future interest rate decisions.
