Analyst: Gold Pullback Still a "Hot Commodity"

According to ChainCatcher, influenced by Trump's continued pressure on Powell, New York gold futures broke through the 3500 mark today, with spot gold just one step away from 3500.

Tim Waterer, Chief Market Analyst at KCM Trade, stated: "Amid concerns about tariffs and the disputes between Trump and Powell, investors have been steering clear of American assets, which has allowed gold to fully exploit the dollar's predicament, securing a favorable position. Given the rapid rise in gold prices this month, there is still the possibility of a pullback. However, there is reason to believe that if prices do pull back, buyers will remain keen on gold, as significant economic uncertainty remains a key feature of the market."