Gold has always been seen as a hedge against economic and political instability, particularly performing better in a low interest rate environment. Currently, the Federal Reserve's decision-makers have not adjusted interest rates because they are still assessing how President Trump's tariff policies and trade negotiations will impact prices and the economy, but the current data does not provide a clear direction.

The market is now focused on the upcoming PPI data from the United States, seeking more clues about the Federal Reserve's interest rate policy. If the PPI data continues to show a slowdown in inflation, it may strengthen market expectations for interest rate cuts, thereby enhancing gold's attractiveness.