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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