Gold hedging position strengthened due to inflation fears

Trump’s tariff plans and their potential economic fallout are driving gold’s strength as a safe-haven asset, with prices reaching record highs. Market uncertainty fueled by steel, aluminum, and Chinese import tariffs, coupled with declining US consumer sentiment and rising inflation expectations, has bolstered gold’s appeal.

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Spot Gold Forecast [07-02-2025]

Spot Gold Forecast [07-02-2025]

Spot Gold 1st Hurdle can be seen at $2,892 (upper boundary of the ascending channel, all-time high) before $2,900 (round level). If gold manages to stabilize above $2,900 and confirms that level as support, then $3,000+++ (psychological level) can be seen as the next Hurdle.

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Spot Gold price touches the target $2700

Spot Gold price touches the target $2700

Spot Gold price managed to touch our awaited target of $2700.00 and found good resistance there, waiting to gain positive momentum that pushes the price to continue moving within the bullish channel visible on the chart to gain additional gains that extend to $2718.00 as the next key station.

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