Analyst: Gold Price Bullish Momentum Remains, Non-Farm Payrolls and Trump Tariff Ruling Key Variables

Odaily According to analyst Giuseppe Dellamotta, gold prices continue to be supported by geopolitical tensions and weak US data, with bullish momentum remaining solid for now. However, Friday's US Non-Farm Payrolls report could pose a challenge. Although the credibility of the previous report was questionable due to government shutdown-related issues, this data should provide a clearer economic picture. Strong data could lead to a significant correction in gold prices as traders delay expectations of an imminent Fed rate cut; while weak data should continue to support gold's upward movement. Additionally, the US Supreme Court has designated Friday as an opinion release day, potentially ruling on Trump's tariff policies. If the tariff measures are overturned, easing stagflation risks could lead to a decline in gold prices. Conversely, if the tariffs remain unchanged, while not triggering major fluctuations, they would still support gold's upward trend. (Jin10)